A number of leading Irish newspapers claim that Hong Kong-based telecoms conglomerate Hutchison Whampoa is looking to re-submit a EUR2 billion (USD2.6 billion) bid for the country’s faltering former monopoly Eircom, and that it will drop a number of the conditions which caused its earlier bid to be rejected. According to The Sunday Times, Hutch, which owns and operates mobile operator 3 Ireland, would drop all conditions – barring due diligence – while the Sunday Independent reports that the company would invest EUR1.3 billion in upgrading Eircom’s services. Purchasing Eircom would be a significant leg-up for Hutch, given that 3 Ireland currently lags behind Vodafone, O2 and Meteor in the domestic market, despite investing about EUR800 million on building out its 3G network.
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OVETEL Hutch to drop conditions as it looks to re-submit bid for Eircom, papers say
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