By Heather McLean, 16 November 2001 15:00
NEWS Eircom, the Irish equivalent of BT, lost its entire board today as it walked out in advance of the company's takeover, led by billionaire Tony O'Reilly. The $2.66bn coup was approved by the Irish government earlier this month. The consortium involved is backed by O'Reilly, George Soros, Goldman Sachs and Providence Equity Partners. O'Reilly will takeover as chairman, while Phil Nolan, owner of UK natural gas network Lattice Group, will take the reigns as CEO, according to reports in the Irish press.
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