B&B, ESOT submit long-awaited offer for eircom

23 May 2006

The Australian banking group Babcock & Brown and the eircom Employee Share Ownership Trust (ESOT) have finally submitted their EUR2.42 billion (USD3.06 billion) offer for Irish incumbent eircom. A newly-incorporated BCM Ireland Holdings (BCMIH) was formed to implement the offer, backed by B&B Capital, its affiliates, and ESOT. Once the takeover is completed, Babcock & Brown will hold 65% of eircom, with ESOT controlling the remainder. The pair already own over 50% of the ordinary share capital between them. Under the terms of the offer eircom shareholders will receive EUR2.20 in cash per share, plus a second dividend of EUR0.052 a share for the fiscal year ended-March 2006, which is expected to be paid in late June. The BCMIH offer values eircom at EUR2.416 billion.

Ireland,eir (formerly Eircom),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share