IRELAND's Ministry of Public Enterprise has disclosed plans to seek a New York listing for Telecom Eireann in its forthcoming sale of stock. The government will send out invitations to 20 international investment banks to pitch for syndicate positions in the privatisation, which will involve the divestment of a substantial portion of the operator's equity capital. The deal will be launched in May or June, market conditions permitting. The government disclosed its plans after a meeting in Dublin this week and bankers says its aims include maximising investors' access to the company's shares.
February 12, 1999
