Eircom soars on ISEQ

Shares prices in telecoms group eircom rose sharply today as the company revealed it had received a preliminary approach, which could lead to a takeover.

Eircom soared 33c to €2.42, more than 15%, today on the Dublin Stock Exchange.

The company issued a statement to the Irish and London Stock Exchanges this afternoon at 1pm.

“The board of eircom notes the recent share price movement and confirms that the company has received a preliminary approach from a potential offeror that may or may not lead to an offer being made for the company,” it said.

The ISEQ index of Irish shares was up 40.32 points to 6686.5 by the end of day's trading.

The financials enjoyed mixed fortunes on today's ISEQ. AIB plumeted 20c to €17.35, while Irish life and Permanent soared the same amount to €14.85. Anglo Irish bank fell 7c to €11.32, while Bank of Ireland rose 3c to €12.80.

Construction company CRH rose 30c to €21.89 following the news yesterday of three major acquistions overseas.

Takeover target Jurys fell 30c to €18.50.

E-learning company Thirdforce recorded one of the day's heaviest losses, falling 5c to 27c, more than 15%.