Eircom confirms takeover talks with Australians

EIRCOM has confirmed that it is in takeover talks with Australian investment bank Babcock & Brown.

Babcock, which already owns just over 12% of the company, has made an offer to buy Eircom believed to be at around €2.30 a share.

In a brief statement Eircom said: “The board of Eircom confirms the company has received a preliminary approach from Babcock & Brown Capital, which may or may not lead to an offer being made for the company. A further announcement may be made in due course as and when the need arises.”