SIRESP emergency communications network sees State assume 100% control

SIRESP, the national emergency communications network that failed with such devastating consequences during the killer fires of 2017, is to pass into the State’s hands.

The deal, costing a purported €7 million, was announced today following the Council of Ministers. It was apparently agreed last night, say reports, bringing an end finally to bitter controversy, aimed particularly at majority French shareholder Altice (click here).

Says Jornal Económico this afternoon, “the official source for Altice has refused to comment” on the announcement.

What is unclear is how much of the €11 million the government purportedly ‘owes’ SIRESP will now be written off (click here).

The State, via public company Parvalorem, has up till now had a 33% share in SIRESP.

Under the terms of the new deal, after paying Altice €5.5 million (for its 52.1% share), and Motorola Solutions €1.5 million (for its 14.9%) the government will be taking full control of SIRESP on December 1.

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