Eircom sells masts business for EUR 155 mln (Ireland)Irish operator eircom has agreed to sell its 340 mobile radio masts to the Irish investment group Towercomm for EUR 155 million cash. TowerCom is a consortium comprised of network services provider Threefold Project Management, Goodbody Stockbrokers and Plainfield Asset Management. The price is equal to 17.2 times the operation’s EBITDA for the year to March 2007. Proceeds from the transaction will be reinvested in eircom’s core business activities, principally in its already-announced investments in broadband rollout, next-generation core network, 3G mobile and improving the efficiency of its local access network and operations.
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