Eircom drops third flotation plan

Eircom has abandoned plans for a potential third stock market flotation following a lack of support in the plan from its shareholders.

In a statement, the telecoms company said, having culminated the strategic review it had undertaken, it did not currently intend to proceed with an initial public offering (IPO).

Its shareholders expressed a clear preference not to proceed with an IPO but to continue with the company’s current strategy which has yielded improved results of late.