Eircom statement calls for clarification from bidders

The board of Eircom is seeking clarification on a number of issues included in proposals from bidders for the company's fixed line business.

The board met last night to consider revised proposals from eIsland and Valentia.

In a statement issued this morning, the board of Eircom said it would continue to seek to maximise shareholder value for the benefit of all those who hold stakes in the company.

The board is seeking clarification on a number of issues included in the proposals received from Denis O'Brien's eIsland consortium and the Tony O'Reilly-backed Valentia group.

However, a statement issued on behalf of the eIsland group this morning says the consortium's backers believe their bid to be the highest of the two.

The consortium is calling on the Eircom board to pick the highest offer when it meets again.