The board of Eircom told the group representing the company's senior lenders that it would have preferred a lower level of debt following the proposed restructuring, according to Eircom chief executive Paul Donovan.
He said that, while the board supported the banks' proposal to reduce the total borrowings from around €3.8 billion to €2.3 billion, a lower level of debt would have been preferable. However, Donovan does not believe that further bank writedowns will be...
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