Union Headquarters has received a number of enquiries regarding the takeover of eircom by Babcock & Brown and the ESOT.

Members have been seeking direction from Union Headquarters as to whether or not we support the takeover bid.  At a recent meeting, the eircom Executive decided that we should be silent on whether or not we would recommend in favour or against the bid, but we are happy to point out that all of the conditions sought by the Union in relation to pay, pensions and terms of conditions of employment have been met in writing by Babcock & Brown.  It will be a matter for the ESOP Board whether or not they will recommend the financial package to the beneficiaries.

I trust this clarifies the matter for all concerned.