20:20 sells 20:20 Ireland stake

Written by: Mobile News
20:20 sells 20:20 Ireland stake

20:20 Ireland managing director Fergus deBurca and former Vodafone Ireland board member Don Maher have bought 20:20 Mobile’s 51 per cent stake in 20:20 Mobile Ireland; Vodafone Ireland retains its 49 per cent stake

20:20 Mobile Ireland has changed hands in a management buyout, with 20:20 Mobile selling its 51 per cent stake in the business to 20:20 Mobile Ireland managing director Fergus deBurca and former Vodafone Ireland board member Don Maher.

Vodafone Ireland has retained its 49 per cent stake, contrary to its line on the matter last week.

In some confusion, Vodafone Ireland last week claimed to have sold its stake in tandem.

However a Vodafone Ireland spokesperson corrected its stance today, putting it down to “a misunderstanding in terms of communications on Vodafone’s part”.

The new 20:20 Mobile Ireland management of deBurca and Maher have rebranded the business as Fónua.

Vodafone Irelandsaid in a statement today (January 31): “Vodafone Ireland retains its 49 per cent  shareholding in 20:20 Ireland following the recent changes in ownership at the company.

“The majority shareholder has sold its 51% stake to a local consortium of investors who have rebranded the company as Fónua.”

20:20 Mobile Ireland has direct supply relationships with all manufacturers.

See comment in Cutting Room: Making sense of 20:20 Ireland

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