Eircom board accepts new e-Island bid

The directors of Eircom are believed to have accepted Denis O’Brien’s latest takeover bid for the company, which is understood to be worth £2.4bn.

The offer by Mr O’Brien’s e-Island consortium is nine cents per share higher than that of Sir Anthony O’Reilly’s Valentia consortium, which has already won the backing of the Eircom board and the employees.