Ireland’s Eircom has hired two more banks to explore options including an international offering and a listing that could value it at more than €2bn (US$2.8bn).
The incumbent telco has brought in Goldman Sachs and Morgan Stanley to explore strategic…
Ireland’s Eircom has hired two more banks to explore options including an international offering and a listing that could value it at more than €2bn (US$2.8bn).
The incumbent telco has brought in Goldman Sachs and Morgan Stanley to explore strategic options, after mandating Rothschild earlier in April to consider what would be its third IPO in 15 years.
The review comes after the group shored up its financial position by extending around €2bn of senior loans by two years to September 2019.
It is also just two years after Eircom was taken over by its bondholders after falling into an administration process called examinership.
Hong Kong-based conglomerate Hutchison Whampoa had tried to buy the telco during its restructuring, but it ended up buying mobile operator O2 the following year after its €2bn offer was rebuffed.
The European Commission recently ‘stopped the clock’ on its review process for the €850m O2 Ireland deal, which requires remedies because Hutchison already owns its rival 3 in the country.
