Eircom to undergo overhaul

A “new Eircom” is about to emerge, according to the company’s chief executive who said he is “very confident” the firm will put this period of financial instability behind it and get on a solid footing.

Paul Donovan said operationally the company is getting itself in better shape and is planning to invest €1.3 billion in the next three years.

Mr Donovan said that shareholders are talking to bondholders about reducing the debt burden and injecting additional funds into the company.