Babcock & Brown now holds 28.8% of eircom

Australian investment fund Babcock & Brown Capital now owns around 309 million shares, or 28.8%, in Ireland’s largest telecoms operator eircom, according to a statement given to the Irish Stock Exchange. If the Aussie firm increases its stake above 29.9% it would trigger a mandatory offer for the rest of the company. Purchasing eircom would give it control over a telco with around a 79% share of the Irish fixed line market.