Hutchison seeks Eircom buyout

Hong Kong based Hutchison Whampoa is reportedly pursuing a takeover of heavily indebted Irish operator Eircom, in a bid to boost its European presence.
 
Sources claim Hutchison Whampoa has already bid €2 billion for Eircom, which filed for bankruptcy protection in March, Bloomberg reports.
 
The bid has reportedly been made through Hutchison's 3 Ireland subsidiary, and a takeover of Eircom could allow the company to bolster its telecom presence in the nation.
 
So far the companies are declining to comment publicly on whether such a deal is on the table. But the company handling Eircom's insolvency process, Grant Thornton, has given a deadline of today for final investment proposals from interested parties. So the prospective deal should be confirmed or denied soon.

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.