Australia’s Babcock & Brown Capital, which owns a majority 57.1% stake in Irish telco eircom, has offloaded the operator’s mast business to Irish investment group Towercom Holdings for EUR155 million (USD215 million). B&B director Rob Topfer said the move was part of a wider ‘value-creating’ initiative it planned to undertake when it bought the firm in August 2006. The money raised will be reinvested in eircom’s core broadband, 3G mobile and next generation networks, and on improving the efficiency and operation of its local access networks, Topfer said.
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