Goldman Sachs

A US investment bank whose international arm is chaired by Mr Peter Sutherland the former Irish Attorney General and European Commissioner. It will invest via its $5.25 billion GS Capital Partners 2000 fund and also raise up to #2 billion in debt for the consortium. Mr Adrian Jones, executive director of Goldman Sachs is on the Valentia board.

Providence Equity Partners

A US private equity firm with a $2.8 billion fund that specialises in telecommunications. Mr John Hahn, the managing director, is also on the board of Valentia.

Soros Private Equity Partners

Affiliated to Soros Fund Management and part of the Hungarian born financier, Mr George Soros's empire. Mr Ramez Sousou of Soros is a director of Valentia.

Warburg Pincus

Also a private equity investment company. Mr Roberto Italia, the managing director of Warburg Pincus is on the board of Valentia.

Sir Anthony O'Reilly

The chairman of Independent News & Media and former chairman of HJ Heinz. He is non-executive chairman of Valentia and will take an undisclosed stake in the business.

The Valentia consortium is supported by the Eircom Employee Share Ownership Trust which owns 15 per cent of Eircom. It will increase its stake to 25 per cent of the equity and 30 per cent of the economic interest. It will be the largest shareholder and have board representation. The ESOT is controlled by Eircom's main unions, the Communication Workers Union and Impact.