The Eircom Employee Share Ownership Trust (ESOT), which owns 14.9 per cent of the company, has voted in favour of a takeover of the company by Valentia Communications.

The 13,000 members of the ESOT were balloted on whether it should join the Valentia Consortium which is trying to buy Eircom for #2.7 billion.

The ESOT will take a 29.9 per cent stake in the Valentia Consortium. Less than half of the ESOT members voted, but they endorsed the proposal overwhelmingly.

The number in favour was 83.6 per cent compared to 16.3 per cent against.

The ESOT members will now be asked to vote on a rival #3 billion offer for Eircom presented last Monday by eIsland. The promoters of eIsland claim their offer will allow the ESOT take a 29.9 per cent stake in Eircom for half the #361 million it will cost under the current Valentia proposal.

Mr Con Scanlon, the chairman of the ESOT, said yesterday it was unclear what shape the ballot would take as there was also the possibility that if a higher offer emerged from Valentia it might also have to be put to members.

The trustees are currently taking advice on how best to proceed. The total number of ballot papers returned by members to the office of KPMG in Dublin by 2 p.m. yesterday was 6,257.

Although this is less than half the membership of the ESOT it represented a strong response, according to the trust. A spokesman for eIsland said it welcomed the result which indicated there was a desire for change among the employees.

"It has given us confidence that when the ESOT ballots on our superior proposal, the members will vote in favour of eIsland," he said.