Singapore Telemedia says eyeing eircom stake

SINGAPORE, June 23 - Singapore Technologies Telemedia, a unit of state investor Temasek Holdings [TEM.UL], said it was looking at investing in Irish telecoms group eircom through its parent Eircom Holdings .

An Irish newspaper reported on Sunday, without citing its sources, that Telemedia would make a formal bid to buy eircom on Tuesday.

"ST Telemedia is currently in the process of evaluating a potential investment in eircom through Eircom Holdings Limited," Telemedia said in a statement.

The Asian telecoms group moved into pole bidding position last week when it won the support of eircom employee shareholders which control a 35 percent stake in the company.

Irish media had previously reported that ST Telemedia had offered around 100 million euros ($139.2 million) for Babcock&Brown Capital , which has the remaining majority stake in eircom and owns the Israeli Golden Pages. [ID:nLI70691]

Telemedia already has stakes in a number of telecoms companies, including StarHub and Global Crossing .