Market on up with deals worth €4.9bn
MERGERS & ACQUISITIONS
THE value of mergers & acquisitions in Ireland more than doubled to €4.9bn over the first three quarters of the year, says mergermarket.
But the market experts still describe activity in Ireland as "picking up slowly", pointing out that the nine-month period included just one deal for more than €1bn. JP Morgan and Morgan Stanley were the dominant financial advisers, with the former doing the highest value of deals and the latter doing the greater volume.
Ryanair vents anger over lack of subsidy
RYANAIR yesterday continued its war of words with the Government over subsidies for the airline's Dublin-Kerry route. Ryanair is threatening to reduce its three daily Dublin-Kerry flights to just one flight a day, claiming the €1.7m subsidy to run the route isn't enough to cover a €440,000 hike in costs. Ryanair asked why the Government was increasing subsidies to Bus Eireann to reflect the its higher costs but wouldn't extend the same deal to Ryanair.
O'Brien's firm posts healthy €1.5m profit
DENIS O'Brien's investment firm Island Capital Services made a €1.5m profit last year. Accounts just filed show the company was charged €145,800 for "rent and associated costs" by Mr O'Brien's media group Communicorp, well down on the €469,540 charge in 2008. Island Capital Services also charged his telecoms group Digicel €4.6m for services in 2009, well up on 2008's €3m.