Eircom examiner completes assesments, rejects new 3 bid

The examiner appointed to eircom has completed his assessment of proposals received in the examinership process

Michael McAteer of Grant Thornton rejected a revised cash offer for eircom last night from 3 Ireland and its Hong Kong-parent group Hutchison Whampoa.

Mr McAteer will today circulate to all creditors of eircom Limited, Meteor Mobile Communications Limited and Irish Telecommunications Investments Limited proposals for a scheme of arrangement ahead of creditors’ meetings to be held in Dublin next Friday, May 18.

The High Court last month confirmed the appointment of an examiner to eircom. The company is trading profitably, but has debts of €3.4bn.