Eircom confirmed market speculation today that it was considering a return to the stock market through an initial public offering.
The former State monopoly - which remains Ireland's biggest telecoms operator - said in a statement it was seeking permission from bondholders to pay dividends in the event that it floated on the stock market.
But it emphasised that no decision had yet been made. "The timing of any such initial public offering will depend on market conditions and other factors," Eircom said in a statement.
Market speculation has grown in recent months that the company was considering relisting on the Dublin and London stock exchanges as early as March.
The rumours were accelerated by news the company was bumping up its monthly line rental charge for the third time in a year - interpreted as a move to swell revenues before a float.
It has been speculated that the company could be worth €4 billion.
Eircom's first flotation in its 1998 privatisation remains a painful memory for thousands of Irish people.
Some 500,000 small investors bought into the company's high-profile offering, many venturing into the market for the first time, only to see the share price nosedive shortly afterwards following uncertainty over the fate of a large shareholding.
Despite a brief recovery, the stock was soon heading south again and in 2001 Valentia Telecommunications, a consortium headed by Dr Tony O'Reilly, acquired the company for €4 billion, its mobile operation having been bought by Britain's Vodafone earlier that year.