Concern over Babcock & Brown share value

Australian investment bank Babcock & Brown has confirmed that it plans to meet its lenders in the coming days following a fall in its share values.

The share market value of the company has fallen below AUS$2.5bn (€1.5bn) which could put the firm at risk.

The bank whose investment arm Babcock & Brown Capital controls eircom has a loan facility of AUS$2.8bn (€1.7bn) with a consortium of 25 banks.

The eircom debt is not linked to the coming review according to a spokesperson for Babcock & Brown Capital.