Once the mainstay of wedding lists worldwide, the debt-ridden Waterford Crystal could be forced to leave its home in the southeast of Ireland. Waterford Wedgwood gave warning 13 April that it would transfer the whole of its crystal business to cheaper facilities overseas unless the Irish Government guaranteed a new £31.2M bank loan. The move came just minutes before it emerged that Sir Anthony O'Reilly, the Waterford Wedgwood chairman, spent Euros 4M of his own money on building his stake in Independent News & Media, where he is locked in a power struggle with Denis O'Brien, the telecoms billionaire. Waterford Wedgwood said in a statement that talks with the Irish Government had started & that the guarantee was a "vital element" in keeping Waterford Crystal in Ireland, where its presence dates back to the 18th century.
