Eircom denies talk of AT&T sale

Eircom has scotched talk of it being taken over by US telecommunications giant, AT&T, with management saying there is no truth in the rumour.

While Eircom’s ongoing strategic review is expected to result in it seeking a third IPO, in a bid to reduce its €2.3bn debt, other options including selling to an industry rival haven’t been dismissed. Recently, speculation arose linking AT&T with a takeover move, which would see the US firm seek a cheaper tax base here.

However, Eircom’s chief financial officer, Richard Moat, said yesterday that there is “no truth to the rumours”. He added that the company’s structural review is ongoing, with all options still open and that it hoped to come to a decision by the end of the year.