Eircom writes down value by €720 million; Pension scheme in deficit of €433 million
Feb 27th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Eircom today reported earnings were down 4% at €333 million while revenue was relatively unchanged at €1 billion in the six-month financial period ended 31 December 2008. The former State-telco has written down goodwill by €720 million - - reflecting a plunge in the value of €2.36 billion three years ago, when the firm was bought by a fund managed by Australian investment bank Babcock & Brown.