eircom welcomes the developments announced this morning by eircom Holdings Ltd (ASX:ERC) that the board of ERC recommends an offer led by STT Communications Ltd (STTC), a subsidiary of Singapore Technologies Telemedia (ST Telemedia) to acquire ERC in partnership with the ESOT.

Commenting on developments, Paul Donovan, CEO eircom said, "This morning’s announcement is a very positive development and brings important clarity to the ownership speculation that has been hanging over the Group for much of 2009.

"It is my hope that the transaction will be concluded swiftly and we in eircom will continue in parallel to drive operational programmes that will transform the company at a time when the challenges in Ireland’s communications sector have never been greater, and the imperative in overcoming them more acute," Donovan concluded.