Three Ireland to make revised offer for Eircom after €2bn bid rejected

Billionaire Li Ka-shing’s Hutchison Whampoa Ltd made a bid of about €2bn for Eircom Group, according to people with knowledge of the matter.

The cash offer by Hutchison’s Three Ireland unit was rejected by the court-appointed examiner because there were too many conditions attached, said two of the people, who declined to be identified because the discussions are private. Three Ireland is working on a revised bid, they said.

Eircom filed for examinership on Mar 30 with €3.8bn of net debt, the biggest corporate insolvency in Irish history.