3 Ireland fails in challenge to Eircom rejection
UPDATE: Three Ireland, the Irish arm of Hutchison Whampoa, is disappointed as it fails to challenge an examiner's decision to reject a cash bid it made for Eircom.
Three Ireland, the Irish arm of Hutchison Whampoa, has failed in a court challenge to Eircom's examiner's decision to reject a cash bid it made for Eircom.
Michael McAteer, Eircom's examiner, said he wanted to recommend a survival plan based on a proposal from Eircom's senior lenders rather than the cash bid.
The judge, Peter Kelly, quoted by Bloomberg News, said McAteer had identified numerous shortcomings in the bid.
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