Eircom announces rights issue details to fund Meteor acquisition

Eircom has announced details of the rights issue which will fund its €420m takeover of mobile operator Meteor, announced on July 25.

Eircom will issue about 313 million new shares at €1.35 per share. Shareholders will be offered five shares for every 12 they currently hold. The new shares will represent just under 30% of eircom's enlarged share capital.