The number of people registering their interest in buying shares in Telecom Eireann continues to soar. Some 930,000 are now registered, with the figures expected to rise to one million by the weekend.

The closing date has still to be announced, but is expected to be around the end of May. Those who register will be entitled to receive a priority share allocation if the demand for the purchase of the shares is very strong.

All of those who have registered will be invited to subscribe for shares in early June. At that stage the number of registrations that transfer into share applications is expected to fall, with estimates that anywhere between 15 per cent and 45 per cent are likely to make a purchase.

The shares are expected to begin trading in July.