Higgins angered by Eircom pay-out

Socialist Party TD Joe Higgins has reacted angrily to the news that former Eircom chief executive Alfie Kane received a "golden handshake" of almost €4m when he left the company.

Mr Kane received €1.08m for loss of office and €2.8m in pension contributions. Mr Higgins said this contrasts sharply with the fortunes of the company's shareholders, who saw their investments plummet in value during Mr Kane's period in charge.

"This is a scandalous revelation and it just shows that the privatisation of what was a crucial public asset - Telecom Eireann - has turned out to be a complete rip-off," he said.