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Fri 08 Aug 2008Babcock Brown signals end of role in Eircom
BABCOCK BROWN'S stewardship of Eircom is set to end in the coming months after the troubled Australian investment bank said it was reviewing its management arrangement with the listed satellite fund that has direct ownership of Eircom.
The termination of the bank's management arrangement with the Babcock Brown Capital (BCM) fund could lead to a sale of Eircom, according to sources close to the company. However, the financier who orchestrated the Australian takeover of Eircom only two years ago insisted yesterday that the company is not for sale at the moment.
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