Eircom to incorporate in Jersey as part of reorganisation

Eircom has announced plans to transfer its assets and liabilities to a new operating company, which would be incorporated in Jersey.

The telecoms operator will remain tax resident in Ireland, and all management and operations of the company will be based here.

The company said being incorporated in Jersey and tax resident in Ireland “would provide greater flexibility to pay dividends to shareholders in the future”.

Eircom said it has initiated a review to explore various strategic options for the company, including a possible listing on a public market.

“Eircom will engage with its shareholders, bondholders and lenders regarding the potential reorganisation through formal consent solicitation processes over the coming weeks,”the company said in a statement.