A spokesperson for Eircom declined to comment on a report by Bloomberg that the company's bondholders may end up owning 25% of Eircom as part of a debt restructuring deal.
Eircom, which is carrying a debt of €3.75 billion, is engaged in a debt restructuring process.
According to Bloomberg, senior creditors of Eircom - who are owed €2.36 billion - would agree to write off some of that sum in return for a shareholding of between 15% and 25%.
Eircom’s current owners, Singapore Technologies telemedia (STT) and the Employee Trust - are expected to inject up to €300m into the company as part of the restructuring, according to Bloomberg, which cited three sources familiar with the talks.
The talks are said to be at an early stage. On Friday afternoon Eircom announced the appointment of six new independent directors to boards within the Eircom group of companies.
The new directors, all of whom have considerable expertise and experience in corporate restructuring, have been appointed at the request of the companies creditors as a condition of the debt restructuring process.
