The handling of the Telecom Eireann flotation by the Minister for Public Enterprise, Mrs O'Rourke, has come under strong criticism from the Opposition, following the resignation of Mr Brian Thompson.
However, the Minister has insisted that the flotation remained on course. The CWU, one of the major Telecom unions, is surprised but not unduly concerned, according to a spokesman, who welcomed Mr MacSharry's appointment, saying he was more likely to be there for the long term.
The Labour party spokesman, Mr Emmet Stagg, accused Ms O'Rourke of "bungling" the preparations for the share sale.
He said that Mr Ray MacSharry "has no expertise in either flotations or telecommunications" and his appointment as chairman "is naked political croneyism".
The Fine Gael spokesman, Mr Ivan Yeats, said that the Minister's handling of the board issue was "ham-fisted and inept". He asked whether Mr Thompson had access to confidential information, which would affect his future with GTS.
However, Mrs O'Rourke said that preparations for the flotation are well in hand and would be copperfastened by Mr MacSharry's appointment. He is a former EU Commissioner and Finance Minister and is a director of the Bank of Ireland, Smurfit, Green Property, Ryanair, London City Airport and is chairman of Coillte.
