Denis O'Brien,eIsland makes final bid for Eircom
The Board of Eircom has ended a three-hour meeting to consider the final bids for the former state-owned company. No announcement will be made this evening, but there may be a statement tomorrow morning. It is understood that no final decision has been reached. Both Tony O'Reilly's Valentia and Denis O'Brien's eIsland consortia submitted bids by the 4.30pm deadline. Whilst neither side would comment on the level of bids, it is expected that they will be revised on previous positions.
A spokesperson for US buyout group, Kohlberg Kravis Roberts, has refused to comment on its interest in Eircom. Meanwhile, the staff employee trust is still solidly behind the Valentia bid. Shares in Eircom are down two cents to €1.28. That is still four cents above the highest bid on the table.
