Moriarty hears how Desmond joined ESAT bid

The Moriarty Tribunal has heard details of how former ESAT chairman Denis O'Brien brought millionaire businessman Dermot Desmond into his bid for Ireland's second mobile phone licence.

The tribunal heard today that Mr O'Brien had approached Davy Stockbrokers to find investors for his licence application and the company eventually convinced three investors to take a 20% stake in the consortium for €8.5m.