Saturday 24 March 2018

Eircom lines up possible stock market flotation

Donal O'Donovan

Donal O'Donovan

Eircom is lining up a possible stock market flotation - in a deal worth at least €2bn.

It is a remarkable turnaround for a company that only emerged from Examinership in 2012 – after burning bondholders to the tune of billions in the then largest  ever Irish corporate insolvency.

The move could revive fears of “corporate pass the parcel” at the company which has changed hands seven times since it was privatised just over a decade ago.

Eircom said it has hired investment bank Rothschild to examine possible options with a view to “further strengthening the financial position“ of the business.

Options include a possible listing on a public market, Eircom said in a statement.

Private equity firm Blackstone is Eircom’s biggest shareholder.

If it goes ahead, the deal is likely to be done at the end of the year.

Online Editors

Business Newsletter

Read the leading stories from the world of Business.

Also in Business