The Cabinet has approved the proposed sale of 14.9 per cent of Telecom Eireann to the com pany's employees, writes Padraig Yeates, Indus- try and Employment Correspondent. Talks to finalise the details are set to end by January 31st.

The Minister for Public Enterprise, Ms O'Rourke confirmed yesterday that the Cabinet had given final authorisation for the Employee Share Option Plan (ESOP) on Wednesday last.

The Department has agreed to the sale of 14.9 per cent of Telecom Eireann to the employees at "a fair price". A 5 per cent stake will be handed over in return for union changes in work practices that will save the company around £110 million a year in operating costs, when fully implemented.