STT expected to make formal bid for Eircom

23 Jun 2009

Singapore Technologies Telemedia (STT), a unit of Singapore’s state investment group Temasek Holdings, is reportedly eyeing an investment in Irish telco Eircom through its parent Eircom Holdings. Unconfirmed reports in the Irish press at the weekend suggest that STT will make a formal offer for the company today. ‘ST Telemedia is currently in the process of evaluating a potential investment in Eircom through Eircom Holdings Limited,’ STT said in a statement. The Singapore holding company is the front runner in the race to acquire the majority shareholding after it won the support of Eircom employee shareholder trust (ESOT) which controls a 35% stake in the telco.

Ireland, eir