Eircom debt plans

EIRCOM has received two proposals from its lenders on how to restructure its €3.75 billion debt, but its shareholders, Singapore Technologies Telemedia (STT) and the trade union ESOT, have not submitted a proposal.

“While the current shareholders have not yet submitted a proposal, the independent directors and management will continue to encourage both shareholders to do so,” Paul Donovan, Eircom’s chief executive, said in a statement.

* Reuters