Valentia consortium ups offer for Eircom

The board of Eircom and the Sir Anthony O'Reilly-backed Valentia consortium have agreed terms of a revised offer for the company's fixed-line business.

The consortium said any new offer would be on the basis that Eircom shareholders would receive a total cash offer of 1.365 euros per share.

The independent directors of Eircom intend to unanimously recommend the new offer once it is made.