Eircom takeover possible after approach from Australian bank

21/02/2006 - 17:50:50
Eircom confirmed this afternoon that it has received an approach from Australian investment bank Babcock and Brown Capital, which may lead to an offer for the company.

In a statement to the Irish Stock Exchange this afternoon, the company said that it may make a further announcement in due course.

The bank already owns 12.5% of eircom. The announcement of the approach saw busy trading in Eircom shares which closed the day up four cents at €2.20.