Anyone else get the letter form Meteor As you may know, Meteor Mobile Communications Ltd is part of the Eircom group Last week, Eircom took the decision to request the apt of an interim examiner. This decision was not easy and was not taken lightly. It is necessary and, we believe the best way to reduce our debt and place company on a sound financial footing. The interim examiner whose apt will take place in the coming weeks, if confirmed by the court, will assess the business and evaluate proposals before recommending the best way to structure in the company. Bla bla bla, goes on to say we want to assure you that you will continue to expereince the same great Meteor value and service as you always have. Doesn't sound to good does it?
http://www.rte.ie/news/2012/0330/decision-on-eircom-examinership-today.html http://pressroom.eircom.net/press_releases/article/interim_examiner_appointed_to_eircom_group/ Links might be of use....Eircom has loads of debt and tried unsucessfully to restructure it. It did not work and is now in administration...
4 bil in debt , how can a company run up such a huge debt? the days of them having the monopoly on landlines is well past so I just cant see how they can repay that debt , I think eircom is the parent company for both meteor and emobile .
It's more or less what G&H wanted to do with us. Since privatization in 92 (I believe) they have been bought on a number of occasions and each time the owners have carried out asset striping, heaping more and more debt on the company and running off with what they could. Sad state of affairs alright
They have been regulated to the hilt and with regulation comes over pricing - not to mention the amount of bureaucracy there is in eircom. The are a product of a government mentality and their own doing down the years. I hope they can sort it out for the sake of all the staff.
They are looking for 500 voluntary redundancies to save the company. No chance. Joke of a company, anyone that is still using eircom for phone and broadband needs their head checked, much better value and service out there. Our line rental is the most expensive in Europe at €26.57 per month. The closest to this is Finland at €16 something per month. No excuses for them being skint. I had a look at my Grans bill and they had been charging her €2 every month for the last 6 years for a phone handset rental......that's almost €150 she had paid them for a phone that's worth about a tenner! Had to send the cnunts the phone back to get them to stop charging her and no matter who I talked to there was no chance of a refund. Supposedly this phone rental charge is quite common on people's bills and they don't even notice.
It's been a long time coming IMO - UPC are investing serious money in their network and wiping out eircom in urban areas.
What a very bad joke, but it was bound to happen .... Time and time again, as that company was sold, there were more of it's profitable assets sold off, while more debt was placed on it ... even the staff, through the ESOP played their part. Sooner or later, this was bound to happen, I'm sorry to say. My bet is Meteor will be sold off pretty sharpish. No doubt you've all noticed that they have been pushing Emobile like mad since they launched it, even offering it as part of package deals with their landline service for small businesses etc. We've not seen them doing that kinda of thing with Meteor. Stories were doing the rounds that Three were a potential buyer for Meteor, before the later roumers that 02 might be up for sale (Spanish parent company considering selling the Irish and perhaps even the British 02 businesses, with Three also a strong contender to buy through their parent company - H.W.) There will be price rises, staff cuts and Meteor (along with perhaps even Emobile) sold off no doubt. The state would however ultimately buy back or play a part in rescuing Eircom, or at least part of it's infrastructure if no one else can save it - given it's still of strategic importance to the communication network in Ireland (I'm sure it still owns a lot of the exchanges etc). Could be interesting to see what would happen if customers of Meteor, Emobile and Eircom all got on the phone and starting wanting to negotiate down their bills, while they are in Examinership ... after all, thats exactly what Eircom will now be doing with all the parties it has to pay - be it various property owners who the company rents land from, providers of stationary, staff etc etc !!!
what year were the eircom shares floated?i kinda remember it being advertised and all but i reckon it was what mid 90s??i always get the impression that was the killer for eircom once they went public.i rang them up a year or so ago to see could i get broadband only and they were looking something like €50 a month because i didnt want a landline, surely getting something off me for broadband is better than getting nothing because i wont take a phone as well
got the letter from eircom..they said they want to set up a tv service in the near future but to be honest i dont think they will survive long enough for that..may start searching for a new phone and broadband provider
So would this be a good time to go to meteor and get a phone on contract because they will collapse soon enough?
Think it was 99 but fanfare made by the gov. about great this was lot of people lost money on this I know people who got loans to buy shares mental.