Eircom board "considering" new proposal from STT

UPDATE: Eircom's board has acknowledged receipt of a fresh bid from its parent, Singapore Technologies Telemedia (STT). The board is to "evaluate" STT's proposal.

12th December, 2011
Eircom board "considering" new proposal from STT
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Eircom shareholder ST Telemedia (STT) has submitted a balance sheet restructuring proposal to the independent directors of Eircom that will give the company an optimal chance of being competitive and viable, a statement from STT has said.

In a response, Eircom has acknowledge receipt of the proposals.

"Today, the independent directors of Eircom received a proposal from its shareholders, Singapore Technologies Telemedia. The company understands that the ESOT is committed to further constructive discussions with...

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