Ireland's eircom hires Goldman, Morgan Stanley for possible listing

DUBLIN, April 29 Tue Apr 29, 2014 4:47am EDT

DUBLIN, April 29 (Reuters) - Irish telecoms firm eircom has appointed Goldman Sachs and Morgan Stanley to advise it on a possible stock market listing two weeks after announcing it was considering a third flotation in 15 years.

The two banks will "explore strategic options for the company including a potential international offering and listing," eircom said in a statement.

Earlier this month eircom said it had hired bank Rothschild to advise on a possible flotation.

The former state telecoms operator filed for protection from its creditors two years ago to restructure 3.75 billion euros ($5.2 billion) of debt and was taken over by its senior lenders after cutting its debt by 40 percent.

The examinership - akin to the Chapter 11 bankruptcy process in the United States and administration in Britain - was the largest in Irish corporate history and saw nearly all of the company's junior debt wiped out. (Reporting by Conor Humphries Editing by Jeremy Gaunt)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.