Irish fixed, broadband and mobile operator Eircom has put itself up for sale as its seeks to restructure its EUR3.75 billion (USD4.93 billion) of debt and avoid a default. In a statement released yesterday, ERC Ireland Holdings Limited confirmed that the board of directors have authorised the initiation of a process to assess the interest of third-party strategic and financial investors in a sale of Eircom. It went on to say that the process will be conducted ‘as part of the wider balance sheet remediation process currently underway’
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OVETEL Eircom puts itself up for sale; seeks to avoid default
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