Speculation that the committee representing first lien lenders to Eircom have rejected the latest offer for the company from STT should be viewed in context.
Just a few weeks ago, STT couldn't even get a date to give a presentation to the committee on its plans to restructure the business. Denis O'Brien was rumoured to be taking a close look at a bid for the company.
The first lien group, made up of around 200...
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