Eircom looks to forge ahead with EUR3bn stock market flotation, paper says

1 Sep 2014

Irish PTO Eircom is expected to forge ahead with a EUR3 billion (USD3.94 billion) stock market flotation, possibly as early as October, even as ‘interest from trade buyers and private equity players wanes’, the Sunday Independent reports. US telco AT&T Inc has decided not to submit a bid, despite making a preliminary approach to Eircom’s advisors, while a number of private equity groups including KKR, Apax Partners and CVC have also reportedly sounded it out about a deal. The paper reports an unnamed Eircom shareholder as saying that Vodafone Group and Deutsche Telekom are still interested, but this has been ‘downplayed’ by sources at the Irish carrier. If no one emerges with a late bid though, Eircom is expected to launch its third flotation in 15 years.

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