Australian investment company Babcock & Brown (B&B) Capital now holds 28.8% of Eircom or 308 million shares, according to a statement released to the Irish Stock Exchange.
B&B, which is considering buying Eircom, recently became the company's biggest shareholder. If B&B increases its stake above 29.9%, that would trigger a mandatory offer for the company.
Eircom said last month it had received an approach from B&B that may or may not lead to an offer being made for the company.
