eircom takeover gets ‘thumbs up’ from competition authority

12 Jul 2006

Ireland’s Competition Authority has approved BCM Ireland Holdings’ proposed takeover of former monopoly operator eircom. In a statement BCM, which is led by the Australian investment firm Babcock & Brown, said: ‘The Irish Competition Authority has granted its approval of the offer.’ The group offered to buy eircom for EUR2.42 billion (USD3.06 billion) in May this year ending months of speculation over the future of the operator. The offer still needs to be approved by eircom shareholders at a meeting on 26 July before it can be finalised.

Ireland, eir