So, You Know That Denis O’Brien Story…

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The one about him owing hundreds of millions to Anglo?

To purchase shares in Independent News and Media that are now worth a fraction of the price paid? That appeared in the UK version of The Sunday Times and not the Irish one?

The one that also raised questions about Denis’s ability to repay those debts?

YES.

That one.

So we checked the “cuts” We could find nothing about these loans.

So Bodger spent the night going through The Fitzpatrick Tapes (having previously trawled through Anglo Republic by Simon Carswell). As there is no index he literally had to read it.

And yet he could find no reference to loans from Anglo to Denis worth hundreds of millions to purchase the shares.

Ewok failed to find anything online either. It was like it was never reported.

Quite.

And yet, as Ewok says, this is no ordinary bank, this is no ordinary punter and hundreds of millions is no ordinary borrowing.

And if the Emperor is only partially clothed…

30 thoughts on “So, You Know That Denis O’Brien Story…

  1. Paul

    I dunno lads, it’s like ye’re turning into proper journalists not just mickey mouse sunday times kinda journalists….

  2. Kolmo

    Keep it up! expose the shenanigans that have us up sh1t creek…nothing will happen as a result of this exposure, but it’s the good fight.

  3. McGrath's Domestos

    So is the main point here that DOB only threatens (allegedly, etc.) Irish hacks; one is safe to print from the UK?

  4. Joe835

    Anglo Republic does refer to Denis O’Brien as one of the bank’s 25 wealthiest clients and a member of the “Golden Circle” longlist that became the Maple Ten (the group that would invest in the bank to keep it afloat), but in terms of owing them money, no mention of that alright. Not sure was he in the Maple Ten in the end either….

  5. Ryan's Daughter

    I love how Broadsheet try every now and then to go all Horizon on the serious issues and then quickly revert to talking about Celebrity Big Brother contestants. It cheapens everything you say when you dabble in spewing crap like that lads…

    1. Derek Bonsai

      Talking about DOB is not crap and in no way cheapens discussion about big brother contestants.

  6. Jockstrap

    Shock horror. Billionaire has massive influence over sweaty palmed pandering government officials in his home country.

    This is the way it is:

    Ireland is run for and by a small number of men who all went to school together.

    Until we have an all out revolution to oust the Ancien Regime, we’ll be moaning and bitching for the rest of our lives.

  7. Fat Frog

    Nice sleuthing Bodger and Ewok. And I love the Broadsheet mix of serious journalism with the flotsam and jetsam of contemporary culture. If it was all serious stuff, where would we get our mmf and squee moments from? Keep it up- all of it!

  8. BlogArab

    In fairness to the Sunday Times, the close relationship between the two is fairly well documented. In January last year – a few days after the publication of the Fitzpatrick Tapes – O’Brien said he was ‘proud’ to call Seán FitzPatrick a friend.
    (Anglo gave O’Brien a loan to start up 98fm in 1989 when many other banks wouldn’t entertain the venture).
    Asked about Fitzpatrick, O’Brien said he wouldn’t distance himself from the disgraced banker because of the controversy surrounding him.
    ‘I was raised by my mother and father to stay friends with people when they’ve run into difficulty and I don’t drop friends,’ he said.
    ‘I am proud that Seán FitzPatrick is a friend of mine. That may abhor a lot of people but he is my friend and he has had a tough time.’
    Such is the strength of the friendship that in 2009, Mr O’Brien agreed to fly Mr FitzPatrick to Nigeria on his private jet ‘the Silver Chicken’ in order to help soothe FitzPatrick’s Nigerian business partners’ fears over his possible bankruptcy. Mr FitzPatrick had invested €12m in an oil well there.
    According to the FitzPatrick Tapes, Mr O’Brien told him; ‘I will go in there… I am a multibillionaire. They can google me. I look the part.’
    Mr O’Brien had also leaped to his old friend’s defence shortly after he resigned in disgrace as Anglo chairman in December 2008.
    At a presentation in a South Dublin golf club two months later, Mr O’Brien lauded the banker.
    ‘Seán FitzPatrick has been a friend of mine for quite a number of years,’ the telecoms billionaire told the crowd.
    ‘He has made mistakes but he continues to be my friend.’
    Mr O’Brien continued; ‘Anglo Irish backed people when others wouldn’t. It backed me when I wanted to start a radio station and nobody else would. Anglo Irish has been blamed for absolutely everything that has gone wrong in Irish banking. That is both wrong and unfair.’

    1. Rebecca

      None of which covers the fact that hundreds of millions of euros were loaned by Anglo to DOB to buy now virtually worthless shares in the independent group. That is the story.

  9. Puntastic

    Good work guys.

    However, one question as I was away for a few weeks over Christmasand was not keeping up to date on this site:

    Did you ever actually provide an update on the Comm******ions Cl***c saga, as promised, or were you forced to keep quiet?

  10. Morgan C. Jones

    Denis has been given qn easy ride by the Irish media/(his employees) for years. Another blowhard waving a green flag the way a magician distracts with his free hand.

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