Anchorage Capital Group LLC intends to acquire eir

Maeve McLaughlin
by Maeve McLaughlin on 27th October, 2016

This morning, the Competition and Consumer Protection Commission (CCPC) confirmed that Anchorage Capital Group LLC intends to acquire Eircom Holdco S.A.

Anchorage Capital Group is a New York-based hedge fund and already owns around 40 per cent of Eircom Holdco S.A., according to a report in Bloomberg last September. It has built up this holding over time.

Bloomberg also reported that in May 2015, Eircom turned down an offer of ‘as much as 3.3 billion euro’ from an unidentified bidder to acquire the company.

However, it now seems that all systems are go, pending any objections or comments to the CCPC.

As with all proposed acquisitions, any third parties who wish to make submissions regarding the competition aspects of the deal can do so. The deadline for these submissions is 10 November 2016.

There is further information available on the CCPC website.