Irish

Friday 1 August 2014

Eircom appoints Goldman Sachs and Morgan Stanley to advise on possible flotation

Published 29/04/2014|10:39

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Eircom is considering a possible return to the stock markets.
Eircom is considering a possible return to the stock markets.

EIRCOM has appointed Goldman Sachs and Morgan Stanley as it gears up for a possible flotation of the company.

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Two weeks ago the company said it was considering its third Initial Public Offering in 15 years.

The banks will "explore strategic options for the company including a potential international offering and listing," the company said in a statement today.

Earlier it hired Rothschild to advise it.

Eircom added that it was “exploring a number of options with a view to further strengthening the financial position of the group. These options include a possible listing on a public market.”

The telecoms firm restructured its €3.75bn in debt and filed for protection from its creditors two years ago.

 It has reduced its debt levels to about €2.2bn and recently renegotiated an extension of some of them.

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