Anchorage buys 25% stake in Eircom from Blackstone

21 May 2015

US-based private equity firm Blackstone Group has sold a 25% stake in Ireland’s dominant broadband provider Eircom to Anchorage Capital Group, Reuters reports, citing a source familiar with the matter. The transaction will increase Anchorage’s stake in the Irish telco to just over 33%, making it the company’s largest shareholder, while Blackstone will retain a 5% stake in the telco. Financial details of the transaction have not been disclosed.

As previously reported by TeleGeography’s CommsUpdate, earlier this week Eircom rejected a proposed takeover bid worth around EUR3.2 billion-EUR3.3 billion (USD3.6 billion-USD3.7 billion) from an unnamed buyer, viewing the offer as an undervaluation.

Ireland, eir