Babcock denies acquisition report

BABCOCK & BROWN CAPITAL Babcock & Brown Capital, an Australian investment company, denied a report that chairman Kerry Roxburgh was approached by Hutchison Whampoa about an acquisition of Babcock’s Eircom unit.

A Sunday Tribune report citing Roxburgh was “incorrect”, said Erica Borgelt, a spokeswoman for the Sydney-based company. Hutchison spokeswoman Laura Cheung declined to comment.

Babcock & Brown Capital, which has a direct 57.1% stake in the Irish telephone company and controls another 7.9% through associates, will consider any approaches that are in shareholders’ interests, Borgelt said.