E-Island appeals to Eircom over Valentia bid

The Denis O'Brien-led bid to take over Eircom's fixed-line business has called on the company's independent directors not to recommend to shareholders the latest Valentia buy-out offer.

The Valentia consortium, headed by Sir Anthony O'Reilly, has approached Eircom with a bid of €1.365, topping the offer of €1.36 by Mr O'Brien's E-Island group.