eircom opens books for Babcock & Brown

26 Apr 2006

Irish incumbent fixed line operator eircom has agreed to let Babcock & Brown examine its books after the Australian group offered EUR2.36 billion (USD2.92 million) for the company. Earlier this month the operator confirmed it had received an offer from Babcock & Brown and the eircom employee share ownership trust (ESOT), which represents its staff. The Australians approached eircom in February about a possible takeover and have since been snapping up shares in the company, becoming its biggest single shareholder with around 29%. ESOT holds a further 22%.

Ireland, eir