BABCOCK & BROWN CAPITAL Babcock & Brown Capital, an Australian investment company, denied a report that chairman Kerry Roxburgh was approached by Hutchison Whampoa about an acquisition of Babcock’s Eircom unit.

BABCOCK & BROWN has denied reports that it will sell Eircom, its Irish telecoms subsidiary within the year.

The owner of seven commercial UK ports attracted takeover speculation today after it was confirmed an Australian firm held 20% of the company.

Defence and engineering group Babcock today said a “hiatus” in rail signalling contracts was holding back a better-than-expected performance across the rest of the business.

Takeover talk in the property sector helped stem losses on the London market as investors exercised caution ahead of the interest rate decision.

BAE Systems and VT Group were today reported to be close to completing a £1bn (€1.48bn) merger of their shipbuilding assets.

THE Government has appointed an expert group to review the profitability of the health insurance market in Ireland.

An expert group was appointed to review the health-insurance industry in Ireland following BUPA’s decision to exit the market, it was confirmed today.

Eircom today confirmed Rex Comb as its new chief executive officer.

BANKS have launched syndication of the senior facilities backing the buyout of Eircom by BCM.

THE ISEQ fell back into negative territory yesterday. The Irish exchange closed down 83.21 points to 7566.69.

Meteor have announced the launch of free Meteor-to-Meteor calls for all existing and new business customers.

The ISEQ index rebounded after its recent slump as investors shopped for bargains and closed up 149.34 points to 7510.71.

The ISEQ index of Irish shares made up for some of yesterday's losses, rising 149.34 points to 7510.71, by the end of day's trading.

The ISEQ index of Irish shares has bounced back from yesterday's loss of over 200 points, rising 130.97 to 7492.34 by 2.30 pm this afternoon.

Australian finance house Babcock and Brown has joined forces with the eircom Employee Share Ownership Trust (ESOT) to make a long-anticipated €2.4bn offer for eircom.

Eircom has announced an after-tax profit of €82m for the year ended March 31, up from €79m in 2005.

Negative sentiment on Wall Street spilled across the Atlantic today as the London markets gave up early gains to plunge into the red.

Copper prices that have risen 60% since the start of the year and touched a new high encouraged investors to plough more money into the mining sector today.

AN AUSTRALIAN company is set to build the €100 million supercourt in Dublin, it emerged yesterday.

The ISEQ index of shares dipped below the 7,900 mark today, down 7.19 points to 7893.28.

UK defence company BAE Systems defended its decision to sell its 20% stake in aircraft builder Airbus in the face of shareholder anger today.

Shares in Eircom rose 1c to 2.17 following the announcement that it has opened its books to bidders Babcock and Brown and the Employee Share Ownership Trust (ESOT), the telecoms company announced today.

BABCOCK & BROWN CAPITAL confirmed to the Australian Stock Exchange yesterday that BCM, in conjunction with the Eircom Employee Share Ownership Trust (ESOT), has lodged a joint proposal with the board of Eircom.

BABCOCK & BROWN is expected to make a full bid for Eircom this week, according to reports.

Buyers deserted the London market today on fears that its recent rally had run out of steam and nervousness over the future path of US interest rates.

The London market slipped into the red today despite bid activity surrounding broadcaster ITV and a number of mid-cap stocks.

The appointment of a new chief executive at Compass continued to please investors today as the FTSE 100 Index stayed above the 6,000 threshold.

Engineering group Babcock added around £130m (€188m) to its value today as defence firms BAE Systems and VT Group considered a takeover bid which would reshape Britain's shipbuilding industry.

The Communications Workers Union (CWU) is seeking clarification about the possible buy-out of Eircom.

Trade unions representing eircom workers have raised concerns about a possible takeover by Australian investment group Babcock and Brown.

The financials were hit hard today as the ISEQ index of shares fell 51.02 points to 7899.81.

The ISEQ fell 16.15 points to 7934.68 by 10.30am today.

ACCORDING to weekend reports, Babcock & Brown - the Australian-based investment bank hoping to buy Eircom - is planning to buy more shares in Ireland's biggest telecommunications company to 29.9% over the course of this week.

THE ISEQ index edged slightly higher yesterday continuing its recent positive momentum.

SHARES in Dublin continued to rise led by a surge in banking and construction stocks. The ISEQ index climbed 68.97 points to 7861.95.

EIRCOM has confirmed that it is in takeover talks with Australian investment bank Babcock & Brown.

The ISEQ index of shares edged towards the 7800 mark today, rising 6.05 points to 7792.98.

Eircom confirmed this afternoon that it has received an approach from Australian investment bank Babcock and Brown Capital, which may lead to an offer for the company.

THE ISEQ Index closed in positive territory for the first day in four with Elan and the banks the main catalysts for the rise.

EIRCOM shares surged by as much as 6% yesterday on speculation that it may be the subject of a takeover bid.

EIRCOM has appointed Rex Comb as chief executive. Mr Comb, 43, was chief executive of Babcock & Brown Capital Management for the last 18 months.

EIRCOM shareholders were €330 million better off last night after the phone company’s shares shot up 15% on the back of a takeover approach from Switzerland’s market leader.