Singapore Technologies Telemedia (STT) is poised to take formal control of Ireland’s former state-run telecoms operator Eircom on 4 January 2010, subject to shareholders approving the acquisition when they meet next month. The Irish Independent writes that in a memo sent round to shareholders yesterday, the board of Eircom Holdings, the Ozzie group that controls 57.1% of the Irish operator, voting on the proposed takeover plan will take place immediately prior to its AGM in Sydney on 15 December. The decision is seen as something of a foregone conclusion however, as ESOT, the employee share ownership trust fund that controls 35% of the company, has already given its backing to the deal. Eircom Holdings anticipates that control of Eircom would be handed over to STT on 4 January.
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