Following a meeting of the eircom Staff Side Panel, which met to discuss the continuing news stores relating to the purchase and break-up of eircom by Babcock & Brown, it was decided to issue the following press statement.

“The trade union group in eircom has noted with concern recent speculation regarding the possible takeover of eircom by Babcock & Brown. In particular, the group has noted comments by the company that, if successful in its takeover approach, it will proceed to dismantle the company.

The trade union group is aware, through ongoing media coverage, that representatives of Babcock & Brown travelled to Dublin in recent days to meet with key stakeholders, including regulators and government officials, in order to discuss the potential takeover of eircom. Given the potential impact any such deal would have on eircom's employees, the group finds it regrettable that no similar meeting was sought with the trade union group representing eircom employees.

The group believes that it is not unreasonable to expect that any potential buyer would treat the trade union group, as the representatives of over 95% of eircom staff, as a key stakeholder in any engagement process. The group therefore calls on Babcock & Brown to immediately move to involve the representatives of the workers in any consultation process going forward.”

We will continue to keep members fully appraised as the matter progresses.