Eircom has satis"ed itself about Babcock & Brown's "nancial capacity and is pretty much ready for due diligence action in the wake of last year's abortive Swisscom bid. So it's a waiting game as the legal eagles pick their way over the "ne print.

A decision on opening the books may be announced as early as this week. Meanwhile, the top Australian team has packed up and headed off to the southern hemisphere to get away from it all. Closer to home, a team is in place in London ready to land in Eircom if it gets the nod to comb through the books.

Back in Dublin, tripartite talks continue between advisers to the company, Babcock & Brown and to the ESOT.

Next up to join the round of chats are the unions, who have done some bee"ng about the fact that they were left out because Babcock wasn't talking to them.

Last Thursday, Babcock & Brown's representatives invited the unions to have a meeting, but the union side wasn't available at such short notice. The talk now is of setting up a meeting in a couple of weeks when the Australians are back in town. And so it ambles on.