Hedge fund ups stake in main Eircom shareholder

Independent – A New York-based hedge fund, run by former Goldman Sachs executives and family members of the Ziff Davis publishing dynasty, has become the biggest shareholder in Babcock & Brown Capital (BCM), Eircom’s main shareholder.

Och-Ziff Capital Management now holds just over 12pc of the potential takeover target, having increased its stake from 4.76pc just a day after the unsolicited €95m bid for BCM from an Australian consortium including Rob Topfer who orchestrated the company’s bid for Eircom back in 2006.

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