Exchange told of Eircom proposal

BABCOCK & BROWN CAPITAL confirmed to the Australian Stock Exchange yesterday that BCM, in conjunction with the Eircom Employee Share Ownership Trust (ESOT), has lodged a joint proposal with the board of Eircom.

The proposal may or may not result in a joint offer for Eircom, they said.

The proposal contemplates a joint offer by BCM and the ESOT for eircom at an offer price of €2.20 per Eircom share, plus the payment by Eircom of a €0.052 per share final dividend. The offer contemplated by the joint proposal is subject to due diligence and other preconditions, they said.