Eircom’s independent directors have set a deadline of November 18th for investment proposals as the former State telecoms firm seeks to restructure its €3.75 billion debt, according to two people familiar with the situation. Eircom said last month it received proposals from its owners, Singapore Technologies Telemedia and an employee trust, and some second-lien lenders, as well “an approach from a third party”.

Billionaire Denis O’Briens mobile phone company Digicel Group is behind the approach, according to three other people with knowledge of the matter. – Bloomberg