Comreg revokes Smart's 3G licence
15 February 2006
The Irish Commission for Communications Regulation (ComReg) has withdrawn Ireland's fourth 3G licence from Smart Telecom.
In a statement, Smart said: "The company was notified last night by ComReg that it believes that the company has failed to meet certain conditions of its original offer and accordingly that it no longer intends to award the licence to Smart."
Smart added that it "strongly refutes the grounds on which ComReg purports to take this action," arguing that it has "received legal advice throughout the process which supports this view".
The company was awarded the fourth and final Irish 3G mobile licence in November 2005 and made its initial payment of Euro56.75m for the licence on 15 December. Following the licence, Smart negotiated a Euro200m network rollout contract with major equipment manufacturers.
A Euro100m performance bond was arranged with banks to support the project.
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