End of (another) era for Eircom
It looks set to fall into the hands of its creditors, but with a €3.7 billion net debt, Eircom faces a tough road ahead, writes Richard Curran.
Eircom's fate - of falling into the ownership of its bankers and other lenders - was more or less sealed last week when the company examiner decided to recommend a takeover offer from its creditors.
A late twist in the tale, which saw Hong Kong-based Hutchison Whampoa make a revised offer for the former state telecommunications company, fizzled out.
Michael McAteer of Grant Thornton, who was appointed examiner, had turned down an initial conditional offer...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine