The independent directors of struggling Irish former monopoly operator Eircom have extended the deadline for proposals on how to restructure the company’s EUR3.75 billion (USD5.07 billion) of debt, by two weeks to 2 December. The telco, which is majority-owned by Temasek Holding’s Singapore Technologies Telemedia (STT) unit, has been holding talks about the restructuring of Eircom’s debt for several months, and in September agreed a plan to waive debt covenants until 15 December, thus averting a possible default.
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OVETEL Eircom extends restructuring deadline
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