Eircom shares soar on Swisscom report

Shares in Eircom jumped by nearly 10% on the Dublin stock exchange this morning after a report in the Irish Independent which said Swisscom, Switzerland's largest telephone company, had contacted the company about the possibility of making a €3 billion bid.

One analyst is quoted as saying that a bid for Eircom by Swisscom is a 'reasonable probability'. An Eircom spokesman told RTE this morning that the company did not comment on speculation.