Ireland-based regional mobile operator Digicel is interested in taking over Irish fixed-line incumbent Eircom, reported the Sunday Times.
On 28 October, Eircom revealed it had been approached by an undisclosed third party to help restructure its E3.75bn…
Ireland-based regional mobile operator Digicel is interested in taking over Irish fixed-line incumbent Eircom, reported the Sunday Times.
On 28 October, Eircom revealed it had been approached by an undisclosed third party to help restructure its E3.75bn (US$5.3m) of debt.
Both Eircom and Digicel declined to comment on whether the latter was involved.
A previous Sunday Times report suggested that Hong Kong conglomerate Hutchison Whampoa had approached the co-ordinating committee of Eircom’s senior lenders in a bid to control the group.
Hutchison’s Irish mobile operator, 3 Ireland, also declined to comment on the speculation.
Eircom is two-thirds owned by Singapore Technologies Telemedia, with employee shareholder trust ESOT owning the rest.
Gleacher Shacklock and JP Morgan are advising Eircom on the talks. Houlihan Lokey is advising the group’s first lien lenders, while Moelis is thought to be advising its second lien debtors.
