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Eircom opts against IPO

Irish operator Eircom will not proceed with a stock market listing after a strategic internal review.

The company has now considered a flotation three times in 15 years, but claimed recent results suggested there are some positive signs for the business in the future.

“As highlighted at our full year results, there are encouraging signs of positive momentum in the business, said a statement. “Our primary focus over the coming months will be to accelerate this momentum.”

Eircom said it had discussed the process with key shareholders, and the board will continue to make significant network investment, which have proved beneficial to the company in recent years.

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