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Singapore Telemedia says eyeing eircom stake

Tue Jun 23, 2009 12:32am EDT

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SINGAPORE, June 23 (Reuters) - Singapore Technologies Telemedia, a unit of state investor Temasek Holdings [TEM.UL], said it was looking at investing in Irish telecoms group eircom through its parent Eircom Holdings (ERC.AX).

An Irish newspaper reported on Sunday, without citing its sources, that Telemedia would make a formal bid to buy eircom on Tuesday.

"ST Telemedia is currently in the process of evaluating a potential investment in eircom through Eircom Holdings Limited," Telemedia said in a statement.

The Asian telecoms group moved into pole bidding position last week when it won the support of eircom employee shareholders which control a 35 percent stake in the company.

Irish media had previously reported that ST Telemedia had offered around 100 million euros ($139.2 million) for Babcock & Brown Capital BCM.AX, which has the remaining majority stake in eircom and owns the Israeli Golden Pages. [ID:nLI70691]

Telemedia already has stakes in a number of telecoms companies, including StarHub (STAR.SI) and Global Crossing (GLBC.O). (Reporting by Harry Suhartono, editing by Ian Geoghegan)



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