Telecoms deal due
Blackford windfall as Lloyds poised to buy Commsworld
Ian Blackford benefits from Labour’s failure to win the election (pic: Terry Murden)
Commsworld, the Edinburgh-based supplier of telecoms networks and internet services, is expected to be acquired by the private equity division of Lloyds Banking Group.
It is understood the deal was put on hold during the general election campaign after the Labour Party announced it would provide free fast broadband to British homes and businesses.
The deal will provide a windfall for the SNP’s Westminster leader Ian Blackford who chairs the company and is rumoured to have a stake of up to 6%.
The former investment banker has declared that he works eight hours per quarter for the company, and receives £1000-a-month. His party was vehemently opposed to a Tory victory last and flirted with the idea of supporting a Labour administration which would have killed the Commsworld deal.
Commsworld is headed by Ricky Nicol who has built the company into a UK-wide business employing more than 100 staff.
Scottish Labour MSP Neil Findlay called on Mr Blackford to return the money he raised from supporters to fund his election campaign.
“While the people of Scotland are now looking down the barrel at years of vicious Tory cuts and the continued scandal of Universal Credit , Ian Blackford, the ‘simple crofter’, will be able to find solace in the huge windfall he will receive from cashing in on the sale of one of his many financial interests,” said Mr Findlay.
“This is the same Ian Blackford who asked members of the public to pay for his election campaigning via a crowdfunding appeal.
“Blackford should now pay back every penny to the people who gave their hard earned money to this millionaire’s election campaign.”