Then junior enterprise minister Dara Calleary held a private meeting with a US telecommunications company with a deal under investigation by the state consumer protection agency and invited the IDA – which was targeting the company.
During the meeting with Phoenix Tower International (PTI) Calleary "welcomed the company's investment in Ireland" and said "the new government is very pro-business," according to a meeting note.
He also said, "Ireland is fortunate to have IDA working for the country as they are the best inward investment organisation in the world”.
PTI – which private equity giant Blackstone holds a significant stake in and whose senior managing director attended the meeting – planned to buy about 1,700 Irish mobile telecoms sites from Spanish company Cellnex.
At the time of the meeting the Competition and Consumer Protection Commission (CCPC) was investigating the deal over fears it would “result in higher prices and/or lower service quality” for customers. It was also under assessment by the Department of Enterprise (DETE).
Meeting notes said Calleary acknowledged, “The CCPC and inward investment screening are independent processes. Should the company require an update on progress with inward investment screening, they are welcome to contact DETE officials.”
An IDA target company
PR firm Q4PR, which was representing Phoenix Tower International, contacted the Department of Trade and Enterprise last year telling Dara Calleary they wished to meet with him. This meeting was confirmed shortly after and held on 8 January, according to correspondence released to The Ditch under freedom of information.
“The two most senior executives of Phoenix Tower International (PTI) will attend on 8 January, the chairman Tim Culver and the CEO Dagan Kasavana. They will brief the minister on their plans for Ireland following the deal in March 2024 below by them,” reads an email sent the day beforehand.
The email outlined PTI’s proposed purchase of critical infrastructure owned by Cellnex, first announced in March 2024, saying the company wanted to discuss its plans for Ireland.
The email was sent while the Competition and Consumer Protection Commission was investigating PTI’s proposed deal. The Department of Trade was also reviewing it.
The meeting brought together Culver and C Kasavana with Calleary, alongside Blackstone senior managing director Michael Diverio. State attendees included department officials and two IDA representatives.
Internal emails show PTI was "an IDA target company". Calleary’s office asked whether an IDA official should attend "if that is appropriate”. The Ditch has asked IDA Ireland if PTI has since become a client.
The CCPC ultimately cleared PTI's acquisition on 6 February, 2025 – just weeks after the meeting – subject to several legal commitments.
The Department of Enterprise said it “does not comment on individual cases”.
The CCPC said it was not aware of the meeting, citing its independence.