Eircom shares fall amid takeover bid

Updated: 15:42, Friday, 25 November 2005

Shares in Eircom fell by €350m today after a takeover approach by Swisscom ran into opposition from the Swiss government.

1 of 1Eircom - Opposition to Swisscom bid
Eircom - Opposition to Swisscom bid

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Shares in Eircom fell by €350m today after a takeover approach by Swisscom ran into opposition from the Swiss government.

The country's finance ministry said the risks of making foreign acquisitions were too high.

The Swiss government owns a majority of the national phone company.

The news sent Eircom shares tumbling.

The Irish company recently announced to the stock exchange that it had been approached about a possible takeover. 

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