Blackstone to sell 25 pct in Irish telecoms firm Eircom-source

Eircom said on Tuesday it had rejected a takeover offer of between 3.2 billion-3.3 billion euros from an unnamed bidder because it undervalued the business.

Blackstone would retain a 5 percent stake, the source said.

Eircom last year pulled out of a possible initial public offering having appointed investment banks to examine what would have been a third flotation in 15 years. (Reporting by Freya Berry in London and Aashika Jain in Bengaluru; Editing by Sriraj Kalluvila)