Smart Telecom will learn today the fate of their proposed 3G license when the High Court rules in Dublin as to whether the troubled telecoms company can retain its license. ComReg (affectionately now known as the Telecoms Poodle in certain circles) had withdrawn the phone license from Smart due to problems surrounding a bond due to be paid by Smart to the tune of â‚¬100m.
Smart recently had its phone service cut by Eircom due to unpaid bills and despite spending millions on advertising, the company remains with just 17,000 broadband customers and debts of â‚¬40m.
This afternoon, shareholders will vote on a proposed takeover of the company by businessman Brendan Murtagh.
Mr Murtagh is proposing a rescue package to buy the company for E1 and take on the liabilities. It would give him control of Smart’s network and 17,000 broadband customers. 40,000 residential phone customers of Smart were recently disconnected because Smart owed Eircom E4m.