Babcock & Brown share slump prompts speculation of Eircom sale by year end

BABCOCK & BROWN has denied reports that it will sell Eircom, its Irish telecoms subsidiary within the year.

The Australian investment group is being forced to sell off significant assets following a massive dip in it shares last week.

Its shares lost a whopping 53% last week as investors feared key lenders would foreclose on the group, due to its massive debt burden.