Eircom completes ownership restructure - Mobile World Live

Eircom completes ownership restructure

12 JUN 2012

Senior lenders have taken full control of Irish telco Eircom after the company completed a restructure that reduced its debt by EUR1.7 billion, reports the Financial Times. The company – which owns Ireland’s third largest mobile operator Meteor – was given court protection in March to allow it to restructure EUR4.1 billion of debt in a process known as examinership. Blackstone, Deutsche Bank and several hedge funds have now taken ownership with the backing of the Eircom board, after Hutchison Whampoa failed with a takeover bid through its 3 Ireland division.

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Tim joined Mobile World Live in August 2011 and works across all channels, with a particular focus on apps. He came to the GSMA with five years of tech journalism experience, having started his career as a reporter... More

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