Royal KPN - which owns 21 per cent of Eircom - has changed chief executives and raised €2.5 billion ($2.25 billion) in new credit to pull the company clear of a debt mountain.
Chief executive Mr Paul Smits resigned and was replaced by Mr Ad Scheepbouwer, currently head of the Dutch post and logistics company TPG, a high school dropout who reformed the Dutch Post Office through privatisation.
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