Eircom, Ireland's largest telecoms operator, has hired Citigroup, Morgan Stanley and Goldman Sachs for its return to the listed market in Dublin. It used Merrill Lynch for its initial public offering (IPO) almost five years ago.

The telecom group's return to the market is expected to take place before the end of March and will raise between €800m ($1bn) and €1bn according to sources close to the deal. The market capitalisation is expected to be between €3.5bn and €4bn.