Irish billionaire Denis O’Brien is rumored to have approached Irish based telecommunications operator Eircom, in a takeover bid.
Eircom is now owned by Singapore Technologies Telemedia and confirmed it has received an offer from a third party, but did not confirm it was Digicel. However, the third party was named in the Sunday Times as Digicel. Formerly state owned, Eircom is the largest telecommunications operator in Ireland.
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O’Brien established Digicel after he sold the Irish mobile operator Esat to British Telecom in 1999. Digicel has a considerable presence in the Caribbean and central America.
Eircom is in currently trying to restructure it’s crippling $5.18 bilion (€3.7billion) debt.
The Hong Kong based Hutchison Whampoa which owns the 3 mobile network has also been suggested as a potential bidder.
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