Valentia, the consortium headed by Sir Anthony O'Reilly, said today the preconditions for its recommended offer for Eircom have been met after it won the backing of the ESOT emplyee trust.
It said 92 per cent of the ESOT members who took part in a ballot on the rival bids from Valentia and Mr Denis O'Brien's eIsland consortium voted in favour of Valentia's proposal.
As a result, Valentia expects to post its offer document to Eircom shareholders on Friday August 31st.