Eircom shareholders have approved the acquisition of mobile phone company Meteor and approved a rights issue to fund the acquisition.
The result of the extraordinary general meeting means that Eircom can allot 313 million new shares to existing shareholders on a 5-for-12 basis. The rights issue will raise €423 million before commissions and expenses.
The Rights Issue is fully underwritten by Morgan Stanley and Goodbody Stockbrokers.
Shareholders have until 11 am on October 7th to accept the rights share offer.