Final step in eircom shares sale concluded

The final step in the sale of the Australian-based eircom Holdings Ltd (ERC’s) shareholding in eircom was concluded today with Singapore Technologies Telemedia’s (ST Telemedia) acquisition of a controlling interest in the company in a €140m cash and shares deal.

eircom Chief Executive, Mr Paul Donovan said the finalisation of the sale was good news for eircom customers, good news for employees and good news for Ireland.