Eircom takeover bid ‘only option’

THE Eircom takeover bid from Singapore Technologies Telemedia is the only game in town, according to union representing the majority of workers in the former state monopoly.

The Communication Workers’ Union of Ireland (CWU), the main trade union for the telecommunications sector here, has taken a significant stance on the future ownership issue at Eircom. In its opinion, the interest being shown by Singapore Technologies Telemedia (STT) presents the “only credible option” for the future of the former state-owned telco.

The sale of Eircom has been on the agenda for a number of months and the company’s parent company, Babcock & Brown Capital (BCM), has already told shareholders that it has been considering “several proposals”.