Friday 20 April 2018

Behind prudent decision by O'Brien to postpone IPO

Martina Devlin

Denis O'Brien, founder and chairman of Digicel
Denis O'Brien, founder and chairman of Digicel

WHETHER he likes it or not, people are interested in Denis O'Brien.

Why wouldn't they be? That Midas touch always attracts attention, especially someone who manages to emerge from a recession with his wealth not just intact but gilded.

In that context, the billionaire businessman's close-to-the-wire decision to call off the flotation of his mobile operator Digicel is intriguing. It was due to start trading on the New York Stock Exchange on Friday, and the cancellation could be construed as damage limitation.

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