Investing in Eircom flotation costs dearly

THOSE who bought into the Eircom flotation should be hopping mad.

The near 500,000 Irish investors who took a punt on what they thought was a sure thing have had their eyes wiped.

Of that there is no doubt. As I write those who dug deep to support the privatisation of the state phone company are down about €300 million or 25% of what they invested in the business prior to the flotation in July 1999.