Thurs - Swisscom circling Eircom?

Rumours seem to be circling that Swisscom may be approaching Eircom about a potential bid that could be worth around $4.5bn.

The leading Swiss telco buying the leading Irish telco looks interesting but not as strategically compelling as Swisscom buying TDC. TDC after all gives them access to multiple European markets whereas Eircom just the Irish market.

I can't help feeling that Swisscom may do better to spend their $12bn acquisition cash pile on trying to become at least a mid size player in a few relevant European countries than just a player in Switzerland and Ireland.

Maybe they're thinking buying Eircom and another player?? We'll see soon.