Eircom's largest shareholder ST Telemedia has submitted a restructuring plan to the telecoms firm's independent directors.
A statement from Eircom said the directors would now consider the STT plan, along with two others received earlier this month from its lenders. The plans are aimed at restructuring Eircom's €3.75 billion of debt.
STT, which has a 65% stake, said it had also provided Eircom's senior lenders with a copy of its proposal.
"Our proposal is targeted at giving Eircom an optimal chance to be competitive and viable by addressing the company's long-term balance sheet issues, while supporting its ongoing business strategy," its statement said.
Eircom said it understood that its ESOT, the other main shareholder, was committed to "further constructive discussions" about participating in the STT proposal.
