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Wed 08 Aug 2008Shares suspended in Babcock & Brown Uncertainty at Australian group that controls Eircom
SHARES IN Babcock & Brown, the troubled Australian investment bank that ultimately controls Eircom, have been suspended in Sydney pending a decision tomorrow on possible changes to its board and management.
The bank, which manages Eircom's immediate parent Babcock & Brown Capital (BCM), requested the suspension last night after the Australian Securities Exchange queried a 23.5 per cent drop in its share price, a fall that brought losses in the past 12 months to more than 80 per cent of its share price.
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