TELECOMS & MOBILE
Threefold to buy Eircom's masts unit?
by Emmet Ryan
Eircom looks set to sell its masts division to Threefold Project Management for EUR160 million, according to reports on Friday.
Despite the reports a spokesman for the former incumbent told ENN that Eircom had no comment to make on any potential deal regarding its masts division.
Reports on Friday indicate that Threefold was one of three groups shortlisted by Babcock & Brown, Eircom's Australian owners. Threefold appears to have beaten offers made by Sean Melly's Powerscourt Investments, and UK-based mobile communications group Arqiva, which is owned by a consortium led by Australian investment company Macquarie.
Threefold has more than 100 employees and provides managed services in network infrastructure. Its customers include Eircom, NTL, O2 and Meteor.
If the sale does go through it will be the second major sale in a week by Eircom. Reports over the weekend said that Quinlan Private has agreed to buy Eircom's network management centre in Citywest, Dublin in a deal worth EUR40 million. The sale and leaseback agreement will see the telecoms provider pay rent of EUR2 million per year on the facility. Quinlan Private agreed a similar deal to buy the new Eircom headquarters building last December.