Norwegians feared O’Brien would seek full control

DAYS before Esat Digifone got the licence to run the country’s second mobile phone network in May, 1996, Norwegian executives feared businessman Denis O’Brien would use his Dermot Desmond connection to gain control of the consortium, the Moriarty Tribunal heard yesterday.

When the Digifone partners came together the previous year, Mr O'Brien expressed the desire to be the majority owner. However, the sides agreed on a 50:50 joint venture and if they won the GSM2 licence - to hold equal stakes and earmark the remaining 20% for third-party investors.

In early May, 1996, senior Telenor figures became concerned the Digifone chairman's Communicorp Group would take over all or part of the 25% then held by Mr Desmond, who had also come on board as an underwriter in September, 1995.