Irish former monopoly Eircom has begun operating under new ownership, after Singapore Technologies Telemedia (STT) successfully completed its acquisition of the telecoms company. The deal to buy the incumbent from its Australian owner, Eircom Holdings, was approved by shareholders in December 2009 and marks the fifth change of ownership for the firm within a decade. Eircom CEO Paul Donovan said the finalisation of the deal was good news for customers, employees and the country. ‘This heralds a new era. We will be working closely with the new shareholders to develop a business model for the long term future of Eircom that delivers an unbeatable customer offer, transforms our operations, and drives a return for the shareholders who have invested in our business.’
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