besides you usually write pubm in lower case and you do not write a space after : in IRC RAW, I cannot see something suspinious. You are most likely having an issue with character encoding. best thing would be copy the character out of eggdrop logs and not out of some chat client windows, since they might use diffrent encoding. telnet terminal windows usually use ISO-8859-1 while I know mIRC to use Windows-1252 (also known as CP1252). You might also check the locale setting from your box. Some systems might even use ISO-8859-15 or UTF-8.
If you are still having issues then read the faszinating manual: http://www.tcl.tk/man/tcl8.4/TclCmd/encoding.htm