O'Brien won't bid for Eircom
Published:Friday | November 18, 2011 | 12:00 AM
Denis O'Brien will not be following through with a bid for Eircom, the billionaire investor said this week.
O'Brien, who was expected to make the bid through Digicel Group, told the First Lien Committee at Eircom that he would "not be proceeding with a proposal for the company".
He declined further comment.
Reports out of Ireland say this would have been his third try at acquiring the debt-ridden Eircom.
The telecoms is in the market for buyers as it restructures its €3.7-billion debt, according to filings to shareholders.
Eircom provides fixed-line and mobile services in Ireland from which it earns some €2 billion in turnover.