3 Want to buy eircom

Sponge Bob

http://www.rte.ie/news/2011/1028/eircom-business.html

The phrases frying pan and fire come to mind

A report in the Sunday Times had suggested that Asian conglomerate Hutchison Whampoa had made contact with a co-ordinating committee of Eircom's senior lenders in a bid to secure control of the operator. Hutchison Whampoa and Eircom both declined to comment on the report.

bealtine

Sponge Bob wrote: »

http://www.rte.ie/news/2011/1028/eircom-business.html

The phrases frying pan and fire come to mind

Can I say oh ****ing hell no?

Sponge Bob

Bidding will be intense for all that new mobile spectrum next year.

AlmightyCushion

Reuters quoted a source close to the talks as saying that STT had proposed giving the most senior lenders a 20% stake in return for a haircut on their €2.4 billion of debt.
The source said second-tier lenders had also proposed swapping some of their €350m debt for equity in the business.

I think that means we're relatively safe. Eircom get rid of some of their debt and give away some equity but STT would still hold the majority. At least that's what it looks like to me.

warlikedave

It will all depend on how the debt is re-sturctured. Eircom is on its last knees as far as I can see. Kiss dreams of Eircom ever doing real upgrades to the network good bye. I live 2 miles outside a town and they have me connected to an exchange 8 miles in the wrong direction and thus the whole area is still on dial-up.

Crappy management and a bad govenment decision to sell Eircom in the first place will see this company taken apart eventually.

Sponge Bob

I note that Denis O Brien has also 'approached' eircom in recent times, this according to the Sunday Times.

Sponge Bob

http://www.irishtimes.com/newspaper/finance/2011/1031/1224306804352.html

The indebted former State company said on Friday it had received an approach from an unnamed third party. The third party was named in a report in the Sunday Times yesterday as Digicel.

The approach follows two existing debt restructuring proposals, one of which is from the current owners, Singapore Technologies Telemedia and the Eircom employee share ownership trust.

A spokesman for Eircom also said the company had no comment on a report of interest from Hutchison Whampoa, the Asian company that owns the 3 network in Ireland.

yuloni

This post has been deleted.

bk

Condi wrote: »

This post has been deleted.

Well if nothing else, we would go from 4 mobile networks to 3 overnight, which would be bad for competition.

Sponge Bob

Condi wrote: »

This post has been deleted.

Ever heard of Rabbit? Right feckin disaster that was.

yuloni

This post has been deleted.

Onikage

3 don't want to buy eircom. Or so they say.

flipall

So now 3 do want to buy eircom, and have put in an offer (which was rejected)

http://www.businesspost.ie/#!story/Home/News/3+Ireland+owner+resubmits+bid+for+Eircom%2C+says+report/id/19410615-5218-4fa3-6306-4acc69196902

But to be fair i can't see Vodafone or o2 having the € to buy eircom!!

Cabaal

flipall wrote: »

So now 3 do want to buy eircom, and have put in an offer (which was rejected)

http://www.businesspost.ie/#!story/Home/News/3+Ireland+owner+resubmits+bid+for+Eircom%2C+says+report/id/19410615-5218-4fa3-6306-4acc69196902

But to be fair i can't see Vodafone or o2 having the € to buy eircom!!

Don't be too sure, Vodafone has plenty of money and is a pretty big company...O2...maybe not.

Can't see Vodafone being too pushed as they got BT's customer base and already have a fixed line and dsl business

Gonzo

Would be great if UPC would buy Eircom:) but dont think they could afford it.

godskitchen

Cabaal wrote: »

Don't be too sure, Vodafone has plenty of money and is a pretty big company...O2...maybe not.

Can't see Vodafone being too pushed as they got BT's customer base and already have a fixed line and dsl business

Not just pretty big, Vodafone are massive
http://en.wikipedia.org/wiki/List_of_mobile_network_operators

They have plenty of cash in reserve but would not be interested in Eircom.

thebman

Gonzo wrote: »

Would be great if UPC would buy Eircom:) but dont think they could afford it.

How would that be great?

No competition over night if that happened

PogMoThoin

thebman wrote: »

How would that be great?

No competition over night if that happened

Exactly, UPC cherry pick where they go