Eircom to take on financial advisers in bid to decide on long-term strategy

EIRCOM is set to take on one or more corporate financial advisers over the next month or so to aid it in reaching a decision on its long-term financial strategy.

However, while a report in the Financial Times suggested that the services of London-based financial advisers Gleacher Shacklock were being lined up, it is understood that a number of investment banks are in the frame and no appointment has yet been made.

Last month, Eircom warned that it will be making further cost reductions as it struggles to cope with rising economic and competitive pressures, adding that it will also be looking to accelerate its previously stated target of redundancies by March of next year.