O'Brien bought shares for Austin 'out of his own pocket'

Former Esat boss Denis O'Brien has told the Moriarty Tribunal that he bought shares worth £100,000 in the company for Fine Gael fundraiser David Austin out of his own pocket.

Mr O'Brien said the late Mr Austin, who was a close friend of the O'Brien family, had approached him seeking shares in the new company.

Mr O'Brien said he had told Mr Austin he would get him some, but in the run-up to the flotation he had forgotten his promise.

"I decided to make it up to him by funding the uplift on the shares myself. I suffered financially but I didn't have the heart to tell him," he said.