Share Name Share Symbol Market Type Share ISIN Share Description
Eircom Group LSE:EIR London Ordinary Share GB0034341890 ORD EUR0.10
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00 € +0.00% 0.01 € 0 06:42:18
Bid Price Offer Price High Price Low Price Open Price
0.00 € 0.00 € - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Fixed Line Telecommunications - - - - 10.81

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Date Time Title Posts
18/8/201110:52An Eircom Once Again!!!!158
01/9/201017:20Eircom ....test only1
21/10/200106:07Views on Eircom please15
05/2/200116:10France Telecom in talks with Eircom2

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lbo: Swisscom bid for Eircom 'a political illusion' Una McCaffrey A Swisscom takeover of Eircom is "a political illusion", regardless of where the company's senior executives might stand on the matter, a spokesman for the Swiss finance ministry said yesterday. The spokesman, Dieter Leutwyler, was responding to suggestions that the Swisscom board could try to push ahead with the purchase of Eircom without getting approval from the Swiss government. The government owns 66 per cent of the company and has said it will block any foreign acquisition as long as it remains majority shareholder. "Swisscom say they can go on with a deal with Eircom but politically that's an illusion," Mr Leutwyler said. "The decision of the government is final." The Swiss government will have "contact" with Swisscom at some point this week, according to the spokesman. Pressure was building on Swisscom yesterday to clarify its position on Eircom, with shares in the Swiss company falling by 3 per cent, a large move for a defensive stock, to a 15-month low. A spokeswoman for Swisscom declined to comment, pointing to the statement issued on Friday. At that stage, Swisscom said it needed to work in the interests of "all shareholders". A further statement is expected over coming days, with Swiss news reports suggesting a Swisscom board meeting took place yesterday. A representative of the Swiss government sits on the board. Considerable commentary focused on the possibility that last week's events could force a change of management at the company. Eircom's spokesman was also quiet yesterday, with the company likely to wait until Swisscom issues another statement before commenting. The Eircom board is known to be monitoring the situation, even though no board meeting has been scheduled to discuss it specifically. It is thought Swisscom has not had any formal contact with Eircom since Friday. "The ball is in Swisscom's court," said one source close to the situation last night. "Nobody expects the company is going to defy the government." Shares in Eircom held up reasonably yesterday, having fallen by 16 per cent on Friday. They closed at €1.91, down three cent, with dealers noting that the company's generous dividend policy had offered it some support. Analysts were trying to establish how the absence of bid speculation would affect Eircom's share price, with Tricia McEvoy at NCB sticking with a "fair value" of €1.94. In London, James Britton at Lehman Brothers predicted further short-term weakness for Eircom, particularly in light of the company's failure to win the most recent 3G licence. "We do not see any other likely bidders for Eircom in the near term," Mr Britton said. In contrast, Bríd White at Merrion Stockbrokers pointed to "several potential acquirers", including Portugal Telecom, Telenor, Telefónica and TeliaSonera. She acknowledged however that none of these would be likely to pay the €2.42-plus that Swisscom was said to be offering.-
lbo: I said it was all very odd! The Sunday Times November 27, 2005 Indo's Eircom story in inquiry Frank Fitzgibbon THE deputy business editor of the Irish Independent has been asked to co-operate with an Irish Stock Exchange inquiry into share price movements at Eircom. The company's share price rose in the days before and after reports in the Irish Independent that Eircom was the subject of a takeover bid from Swisscom, another telecoms company, which is 66% owned by the Swiss government. On October 6 the newspaper published a front-page story by Tom McEnaney claiming that Swisscom had made a €3 billion approach. Shares in Eircom, which had been rising steadily, soared from €2.04 to €2.24 on the back of the takeover speculation. Eircom issued a statement later that day stating it was "not currently in discussions" with Swisscom or any other company in relation to a possible offer. On the following day the Irish Independent stated "investors interpreted Eircom's use of the term 'currently' as confirmation that an approach had been made". Two days later The Sunday Times reported that the companies had held informal talks in February, but there had been no contact since. On October 10 it emerged that an Australian investment company had been building a stake in Eircom, and the takeover speculation ended. The news sent the shares falling to €2.09. On November 2 the story took a bizarre twist when Eircom revealed that it had received a takeover approach that day from Swisscom. The stock exchange, which is carrying out the inquiry under new powers granted to it by the Financial Regulator, refused to comment. "We would not comment one way or the other in terms of the specifics of any given case," it said. "We would look at any significant share price movements." McEnaney, a former business journalist with The Sunday Times who joined the Irish Independent earlier this year, made no comment. Any inquiry would require McEnaney to divulge the source of his original story.
sl0009: Thanks CAT for response. What do you think is wrong with SMR. Surely the share price should have risen after 3G. Will eircom suffer long term from not getting the 3G
lbo: Eircom 2Q Tempered By Declining Voice Traffic Tuesday, November 15, 2005 2:53:13 AM ET Dow Jones Newswires 0739 GMT [Dow Jones] Eircom (EIR.DB) posted 2Q diluted EPS of EUR0.04 versus EUR0.03, compared with forecasts hovering around EUR0.045. Analysts say 2Q was tempered by the decline in voice traffic. "The Swisscom (SCM) talks with Eircom and speculation regarding rival bids is likely to underpin Eircom's share price in the near-term," says NCB, adding that Eircom needs to continue its focus on costs. Maintains hold. Shares closed EUR2.29. (QAF)
lbo: bad results too yesterday! Eircom posts €77m quarterly profit but slow broadband take-up hits margins Analysts say the addition of 13,000 new broadband users is disappointing, writes Barry O'Halloran Telecoms company Eircom posted €77 million in pre-tax profits in the three months to the end of June, but figures show that its efforts to attract broadband subscribers are hitting its margins. The company yesterday did not comment on US-based search engine Google's launch of a free internet-based call service. However, senior figures within Eircom said they did not see the move having any impact on the business for the time being. Google will initially limit the new service to the US, but does eventually intend to roll it out across the globe. One Eircom source pointed out that the service would ultimately increase internet use. "That would be good for our business," the source said. Eircom's revenues for the three-month period, the first quarter of its fiscal year, dipped €2 million to €399 million on the same quarter in 2004. Turnover for voice traffic - conventional phone calls - dropped 8 per cent to €128 million, but sales from interconnection services rose 25 per cent to €46 million. Operating profits were €112 million, compared with €25 million during the same period in 2004. A one-off €46 million gain from the sale of property lifted pre-tax profits to €77 million. During its first quarter last year, Eircom lost €6 million before tax. Most of the headline results were a restatement under new international financial reporting standards (IFRS) of figures the company issued last month, and were broadly expected by the markets. However, analysts were critical of the rate at which the company is signing up new customers to its broadband services. The figures show that the company signed up 13,000 new broadband subscribers in the three-month period, a performance analysts described as disappointing. The introduction of cheaper prices and new talk time options sped up the monthly take-up since the end of the quarter. The company took on 6,000 new customers between July 25th and August 18th, bringing total broadband subscriber numbers to 156,000. That was the equivalent of 7,700 per month, compared with just over 4,000 a month between the end of March and the end of June. However, analyst Tricia McEvoy of NCB Stockbrokers pointed out yesterday that this meant that the company's efforts to attract new subscribers were continuing to cut into its margins. Ireland Off-line, a lobby group for business and consumer internet users, said yesterday that at its current take-up rate, Eircom would not reach its target of 500,000 subscribers by December 2007 until at least two years later. Eircom's share price dropped five cent or 2.8 per cent to close at €1.75 in Dublin yesterday. Dealers said that the poor broadband performance and the fact that the market was aware of most of the figures were the main reasons for the lack of investor interest. The company is about to embark on a rights issue to pay for its proposed €420 million takeover of mobile operator Meteor. It is set to publish the prospectus later today or early next week. The figures also indicated that Eircom's competitors have been making some inroads into its fixed-line customer base. Bríd White of Merrion Stockbrokers pointed out yesterday that during the first quarter, the company had rented out 8.7 per cent of its lines to other operators. Ms White said that this figure was ahead of the firm's expectations and indicated that alternative operators had made significant progress in the market since single billing was introduced just over a year ago.
lbo: The problem is not the ex rights yield but the debt! Eircom had to go to shareholders for the money as the debt market laughed at them! They have €2.3bn in debt and a Mkt Cap of 1.4bn.The problem is that going foward all cash is going to need to be put into meteor and if they bid for the 3G license and ongoing Cap Ex investment in its network and they wont have the funds to continue paying the dividend. Its a classic O'Reilly move! rRemeber they only have cash reserves of €388m Goodbodys may well get in trouble for that note!! they are underwriting the Rights issue and are supposed to be restricted and obviously want to appear Bullish as any stock thats not take up will be left with them!!! "The Meteor chalice will require a degree of polishing. The stock market has already had its say and" the Eircom share price slid 11% on the news of the deal. The Davy analysts Jack Gorman and Barry Gallagher called the €420m Meteor purchase from US group Western Wireless expensive, absolutely and relatively.,,2095-1714624_3,00.html The Merrion analyst Brid White labelled Eircoms target of doubling Meteors market share as challenging, and she is not expecting the acquisition to enhance earnings per share until 2009 or 2010. A lot of investors tend not to look out that far, added White. Another fund manager labelled the deal, which shareholders will fund entirely through a rights issue, strategic, but expensive. This could be another repeat of the recent Waterford Wedgford Rights issue! The Sunday Times - Business July 31, 2005 Rivals will block Eircom bundles™ Brian Carey TELECOM rivals will block any future attempts by Eircom to sell mobile and fixed-line services as a bundle unless there is further deregulation of the market here. BT chief operating officer Mike Maloney has already raised his concerns with ComReg, the industry regulator. Eircom last week agreed to purchase Meteor for an estimated €420m and plans to aggressively pursue the contract market. Eircom has said it intends to operate Meteor as an independent subsidiary. Brid White, an analyst at Merrion Stockbrokers, estimated last week that there would be limited operational synergies between a stand-alone Meteor and Eircom, with savings of less than €10m. It has been speculated that Eircom could seek to sell mobile and fixed-line services to business customers in the longer term. The linking of mobile services to Eircom would tie in corporate customers, copper-fastening its dominant position in the fixed-line market. Clearly it is going to be an issue, said Maloney. The BT boss is not opposed in principle to the bundling of the services, but only if other operators can also offer the same product. The regulator would have to intervene in the market and force O2, Vodafone, and Meteor to sell mobile services on a wholesale basis to so-called mobile virtual network operators, said Maloney. Eircom will have a number of regulatory issues to clear upon its entry back into the mobile market. Last month, ComReg announced that it planned to regulate the fees Meteor charges to terminate calls on its network. Meteor termination rates are twice those of other mobile operators. Other mobile networks are also likely to insist that there are no sweetheart deals between Eircom and Meteor regarding the charges for terminating calls on each others networks.
belize1970: Current share price implies ex-rights yield of 6.7%. From Goodbodys While we struggle to understand the decline in eircom's share price over the last few days following the announcement of the acquisition of Meteor, we think it may well have to do with confusion about the dividend yield that the shares will offer when they go ex-rights. Lest there be no further doubt, the ex-rights shares will offer the exact same dividend yield that the shares will trade on the day before they go ex-rights. Therefore, if the shares went ex-rights today, the new shares would open this morning on a dividend yield of 6.7% because yesterday's closing price implied a dividend yield of 6.7%. While this is the highest dividend yield in the European telecoms sector (and one which, in our view, has become more secure as a result of the Meteor acquisition), any further decline in the current share price is going to make the dividend yield on the ex-rights shares even more attractive. Maybe the confusion will only really clear when investors see it written on paper when the rights documentation goes out at the end of August but whenever it does, we can't see the shares remaining as attractive as this for too long.
dundanion: i think it is a cheap VOD share. VOD could easily reach #2.6-#2.75 before March. that would bring eir price up by 20%
serina: France Telecom in talks with Eircom Francess McDonnell, Dublin FRANCE TELECOM, the world's fourth-biggest phone company, is thought to be in talks with Eircom about acquiring a 29% stake in the Irish firm. Senior industry executives said negotiations were believed to be at an advanced stage and an agreement could be signed within weeks. The stake would be worth at least £1 billion, making the deal one of biggest in Irish corporate history. The purchase would not trigger a full takeover, although that would remain an option for the French company. KPN, the Dutch telecoms operator, and Telia, a Swedish phone company, already own 35% of Eircom, and are anxious to sell their joint stake. France Telecom, which recently paid £31 billion for Orange, wants to establish a presence throughout Europe. The company already operates in 16 European countries and could easily afford a purchase such as this one. Both companies refused to confirm the speculation. One in four Irish adults bought shares in Eircom when it floated last year, making it one of the most widely-held telecoms stocks in Europe. Uncertainty over the company's future, however, has weighed on the stock, which is trading well below its flotation value. On Friday Eircom shares closed down almost 40% on their debut price. The poor performance is partly due to uncertainty over if and when KPN and Telia will sell their stakes. Both companies said they had put their shares on the market last November, but Telia later changed its mind as the share price fell. KPN pledged to press ahead with a sale in June, a deadline that subsequently moved to this month. Under Stock Exchange rules, the Dutch company must offload its shares before September or retain its stake until after the interim results are published in November. The slump in Eircom shares, which were heavily marketed by the Irish government last year, has caused widespread anger among investors, many of whom had never before bought equity. Earlier this month, the company's directors were lambasted by 4,000 private shareholders at a boisterous annual meeting. Last week, Malcolm Fallen, Eircom's chief financial officer, resigned suddenly for family reasons and is joining Kingston Communications. Eircom's shares fell further on the news. A Dublin telecoms analyst said phone stocks across the globe had suffered recently. "Eircom's exposure to Nasdaq and its position following the annual general meeting, plus the resignation of Fallen, does not paint a sunny picture," he said. "But I believe Eircom should be viewed in the long term. We may well see a return to the flotation price which would be a positive development. And, once the overhang of KPN and Telia is removed, then we should see a period of considerable growth ahead." The analyst said the Irish market offered quite good growth potential for Eircom's fixed, mobile and data businesses. "The absence of a clear strategy has not helped Eircom in recent months so this must be a priority," he said. France Telecom is an aggressive company with ambitious plans to expand in Europe. It has 1.8% of Deutsche Telekom and 10% of in Sprint, the American company. Earlier this month, it posted a 7.8% rise in operating profits to £1.5 billion.
serina: Eircom bosses to share in the spoils Opinion: Weak BUY Message: Eircom bosses to share in the spoils SHANE ROSS Exclusive A SHARE option package for all the top management at Eircom has been agreed. The terms of the scheme will be put to shareholders at the AGM in the RDS, Dublin on September 13. The package will give Alfie Kane, chief executive of Eircom, and his colleagues generous rewards provided they increase the company's earnings per share by inflation plus 5 per cent annually. A row had recently broken out between Eircom management and the Irish Association of Investment Managers (IAIM) over the details of the package. Last Friday Eircom agreed to the IAIM's request for earnings per share to form the basis of the options scheme. Eircom had preferred a total shareholder return criterion. Neither party opposed a share option scheme on principle. Sources in the IAIM say that the Chairman of Eircom, Ray MacSharry, had insisted that the disagreement over options should be settled before the AGM in five weeks' time. The key question: the price at which the share options will be exercisable by the executives has not been agreed. The IAIM failed to make any stipulation on this issue. Neither the price nor the number of options granted to Mr Kane or other managers will be revealed before the AGM. It is the board's intention to refer these two thorny issues to the Eircom remuneration committee for decision later. Stockbroking sources last night told the Sunday Independent that Mr Kane would normally expect to receive options with an underlying share value of four times his salary in his case about £1.2m worth of stock, or options over as many as 600,000 shares. Mr Kane's salary stands at £300,000 per annum. The same sources claim that the exercise price would normally be around the level reigning on the date of the granting of the options. It is believed that as many as 300 people at the top in Eircom will benefit from the package. Eircom's fortunes got a modest boost on Friday when the UK investment house Merrill Lynch gave the stock a `long-term buy' rating. Urging investors to accummulate the shares, Merrill Lynch set a 12-18 month target of euro 4 for the stock. Noting that Eircom's share price has fallen by 30 per cent since its launch last July, Merrill Lynch insists that this is due to a number of factors, ``the most significant of which has been the recent dramatic swing in market sentiment away from the Telecoms, Media and Technology sectors.'' The Merrill Lynch analysts believe that ``in Eircom's case this has been compounded by fears over the sustainability of Irish economic growth, the emergence of an overhang from the former strategic partners [KPN and Telia], the emergence of regulatory concerns and also the reduction in consensus forecasts''. Immediately after the AGM, the 21 per cent holder KPN of Holland is committed to a secondary placing of its entire stock on global stock markets. This stock is expected to be sold at a discount to the market level. Last week, analysts were not holding out much hope of a bounce in the share price before KPN had disposed of its holding. Coincidentally, just at the time the KPN stock is being placed, the share option scheme if passed at the AGM should begin to operate at the lower price levels.
Eircom share price data is direct from the London Stock Exchange
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