A number of Irish news sites are reporting that two of the main shareholders in troubled national carrier Eircom, Singapore Technologies Telemedia (STT) and the company's employee shareholder trust (ESOT), have abandoned plans to invest in the company and retain overall control of it, citing instability in the eurozone as the reason. RTE News writes that the unexpected twist could leave the way clear for a consortium of lenders – comprising banks and private equity groups – to make a move for the Republic’s largest telco.
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OVETEL Eircom backers abandon investment plan amid eurozone jitters, papers say
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