Swisscom mulls Eircom bid

3 Nov 2005

Eircom has revealed in a statement to the Irish Stock Exchange that it has been approached by Swisscom with a view to a possible takeover bid. Eircom currently has an enterprise value of EUR4.4 billion and has long been touted as a takeover target. Unconfirmed reports suggest that the Swiss company could team up with Babcock and Brown Capital, an Australian investment fund which bought a 12.55% stake in the company in September. Swisscom is known to have money burning a hole in its pocket, having lost out to Telefónica in the race to buy Cesky Telecom earlier this year. Eircom is not its only possible beau; it is also understood to be sizing up TDC of Denmark, which has already been the subject of approaches by two private equity firms.

Ireland, eir, Swisscom