The terms of the sale of Cablelink appeared to be in question last night, as differences emerged between the attitude of the telecommunications regulator, Ms Etain Doyle, and that of the investment bankers handling the sale.

Confidential documents sent last month by NM Rothschild & Sons to prospective buyers of the Stateowned cable company - copies of which have reached The Irish Times - specifically refer to the absence of competition to Cablelink in the Dublin area.

"Cablelink has excellent growth potential and represents a highly attractive business opportunity," the document says.

Among the company's attractions, the Rothschild document continues, is that it has "high average penetration (83 per cent) across its franchises with a monopoly in the largest franchise, Dublin (90 per cent)".

The document also suggests that Cablelink's 330,000 customers are paying over the odds for the service Cablelink provides: "[It has] significantly higher basic cable revenues per subscriber than comparable European, high-penetration cable markets."

But the consultation paper published by Ms Doyle earlier this week specifically rules out monopolies, and promises that in future cable companies will compete with one another. It also proposes protecting the consumer from being overcharged, by regulating the prices charged by cable companies that enjoy monopolies.

Telecom Eireann owns 75 per cent of Cablelink, with RTE holding the remaining 25 per cent. Industry analysts expect the company to net at least £150 million when the Government finds a buyer.