Eircom shares up as Swisscom bid resurrected

EIRCOM shares gained 3% yesterday after Swisscom put itself on a collision course with the Swiss government with plans to resurrect its aborted takeover bid.

Swisscom promised a showdown with the Swiss government, its major shareholder with a controlling 66% stake, as early as next week.

A statement released by the company yesterday said the Swisscom board, which includes a government representative, had “analysed the situation in detail” and had asked for direct talks with the government, which stunned the markets last week with the announcement it would use its shareholding to block any foreign takeovers planned by Swisscom.