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Examiner declined €2bn offer for Eircom

A CASH offer of €2bn for Eircom was turned down by the company's examiner and its senior lenders in the past week, it emerged today.

The offer was made by mobile phone company 3 Ireland and its parent company Hutchison Whampoa, which is based in Hong Kong.

Hutchinson was to have provided the finance for the deal as well as cash in the region of €1bn for investment in Eircom's fibre network.

Eircom said on Monday it had been notified by the examiner, Michael McAteer of Grant Thornton, that he had received an offer for the company but that the examiner decided not to proceed with the offer.