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Europe

Eircom Stake up for Grabs

10:30 AM -- The 57 percent stake in Irish incumbent operator eir held by Eircom Holdings (formerly Babcock & Brown Capital) is for sale, with talks set to take place this week with prospective buyers, according to this report in the Financial Times.

The news comes as Eircom, which ended March 2009 with 658,000 fixed broadband and more than 1 million mobile customers, reported a 5 percent year-on-year dip in revenues for its fiscal third quarter (to the end of March 2009) to €488 million (US$678 million). (See Eircom Reports Q3.)

The Irish economy is amongst those hardest hit by the economic slump in Europe.

— Ray Le Maistre, International News Editor, Light Reading

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