Eircom tight-lipped on likely takeover

EIRCOM refused to give any update, yesterday, on where the likely takeover by Singapore Technologies Telemedia (STT) currently stands, but did say that it remains on track to lower its annual operating costs by €130 million within two years.

Completion of the anticipated takeover of Eircom Holdings, the Australian-based 57% owner of Eircom, by STT was expected last week and then again, when that didn’t materialise, this week.

An Eircom spokesperson said yesterday, the matter remains “a shareholder issue”.