ESOT and Babcock make Eircom bid

THE Eircom employee share ownership trust (ESOT) has teamed up with Babcock and Brown to launch a bid for the telecoms company.

The ESOT is the second largest shareholder in Eircom after Babcock, an Australian investment house.

It is understood that the two have put in an offer of €2.20 a share to Eircom.