ST Telemedia, the Singapore state-owned telecoms group, is poised to make its first acquisition in Europe after agreeing a deal to buy Eircom, the debt-laden Irish telecoms group.
Eircom Holdings, the Irish company's Australia-based parent, recommended STT's offer to shareholders in June , which gives the Irish group an equity valuation of about A$67m (US$57m). With Eircom's debts, the deal puts a total enterprise value of €4.4bn ($6.4bn) on the Irish group.
