Eircom plans shares sale

EIRCOM is being asked by some of its bondholders for more time to consider a plan by the company to sell shares.

A group led by Erlend Lochen, a fund manager at Standard Life Investments in Edinburgh, held a conference call Thursday to discuss the plan by Eircom and its parent Valentia Telecommunications Ltd, said investors who took part in the discussion and asked not to be identified.

Lochen declined to comment. Investors have requested that the company extend a Wednesday deadline it set for approval of the plan.