Employees Lose Ownership Stake in Eircom

The Irish telecommunications company Eircom emerged from bankruptcy protection on June 12 with a new ownership structure. One third of the company's shares had been owned by the Eircom Employee Share Ownership Trust and the remainder by Singapore Technologies Telemedia, but following its bankruptcy, Ireland's largest, all shares are now held by a group of 200 former debt holders, led by the Blackstone Group of New York.