Eircom confirms takeover interest

Eircom sponsors the Republic of Ireland football team

Irish telecoms group Eircom has confirmed it has received an approach that could lead to a takeover offer.

The company has so far not named the possible suitor, but both analysts and media reports say it is Swiss phone firm Swisscom.

Eircom is the Republic of Ireland's largest telecoms company, with both fixed line and mobile operations, through its Meteor subsidiary.

Market estimates put any firm bid by Swisscom at 3bn euros ($3.6bn; £2bn).

Swisscom has declined to comment.

Eircom controls more than 75% of the Republic of Ireland's fixed line network.

Earlier this week Spain's Telefonica bid £17.7bn for UK mobile group O2.