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Singapore Telemedia says eyeing eircom stake

Published 06/23/2009, 12:32 AM
Updated 06/23/2009, 12:41 AM

SINGAPORE, June 23 (Reuters) - Singapore Technologies Telemedia, a unit of state investor Temasek Holdings [TEM.UL], said it was looking at investing in Irish telecoms group eircom through its parent Eircom Holdings .

An Irish newspaper reported on Sunday, without citing its sources, that Telemedia would make a formal bid to buy eircom on Tuesday.

"ST Telemedia is currently in the process of evaluating a potential investment in eircom through Eircom Holdings Limited," Telemedia said in a statement.

The Asian telecoms group moved into pole bidding position last week when it won the support of eircom employee shareholders which control a 35 percent stake in the company.

Irish media had previously reported that ST Telemedia had offered around 100 million euros ($139.2 million) for Babcock & Brown Capital , which has the remaining majority stake in eircom and owns the Israeli Golden Pages. [ID:nLI70691]

Telemedia already has stakes in a number of telecoms companies, including StarHub and Global Crossing . (Reporting by Harry Suhartono, editing by Ian Geoghegan)

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