The Government’s investment fund aimed at supporting economic activity and creating jobs across the country has made an Irish-headquartered life sciences firm the first beneficiary of its investment programme.

Malin, the Irish-backed investment firm targeting privately-owned life-science companies, has surpassed its initial funding hopes, by raising up to €330m in what is being viewed as one of Europe’s largest ever IPOs for the life sciences market.

The board of BT was meeting yesterday to discuss the possible acquisition of British mobile operators O2 or EE, a person familiar with the situation said.