Eircom rated as short-term buy

It may be little consolation to Eircom shareholders but, with the extraordinary general meeting of the company to confirm the sale of Eircell to Vodafone looming, the company is rated as a short-term buy.

While the price is still well below the flotation price of €3.90, Dolmen reckons it is on the rise.

With Vodafone's stock rising and a likely offer from either Dermot Desmond or Denis O'Brien for the balance of the company at €1.10, Dolmen argues there is a buying opportunity at current levels.

dcoyle@irish-times.ie