Reuters, 23 Dec 2011DUBLIN, Dec 23 (Reuters) - Eircom's owner Singapore Technologies Telemedia has withdrawn from the board of the struggling Irish telecoms firm after lenders rejected its proposal to restructure 3.75 billion euros ($5 billion) of borrowings, eircom said on Friday.
Temasek unit STT bought 65 percent of debt-laden eircom in 2009 for 140 million euros in cash and shares, but would likely have to invest more than that to maintain control of the company after restructuring. An employee share trust owns the other 35 percent. Full story
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STT directors quit Eircom after rejection - RTE News
Eircom owner STT pulls all its directors off board of troubled telco - Independent.ie
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