Eircom in talks with shareholders and unions over rescue package

22 Feb 2011

According to local press reports, the management of beleaguered Irish telco Eircom is holding meetings this week with the Communications Workers Union and main shareholders Singapore Technologies Telemedia (STT) and the Eircom Share Ownership Trust (ESOT) over a proposed EUR300 million (USD410 million) rescue package. The company currently has debts of EUR3.8 billion and has previously indicated it may breach some of its lending covenants unless it gains new investment and undergoes restructuring.

Ireland, eir