It may be little consolation to Eircom shareholders but, with the extraordinary general meeting of the company to confirm the sale of Eircell to Vodafone looming, the company is rated as a short-term buy.

While the price is still well below the flotation price of €3.90, Dolmen reckons it is on the rise.

With Vodafone's stock rising and a likely offer from either Dermot Desmond or Denis O'Brien for the balance of the company at €1.10, Dolmen argues there is a buying opportunity at current levels.

dcoyle@irish-times.ie