€2bn Eircom bid in pipeline

The owner of 3 Ireland, Hutchinson Whampoa are believed to be preparing a revised €2bn bid for Eircom.

A conditional €2bn bid by the company has already been rejected by Mick McAteer of Grant Thornton — the examiner appointed to Eircom by the High Court.

It has been reported Mr McAteer will not be bound by the terms of a lock-up agreement that had sought to stop Eircom being placed under control of anyone other than the banks.