Reports in the weekend papers that the Labour peer Lord Hollick is planning to buy a large shareholding in Mirror Group Newspapers have been denied.
The reports were fuelled by the recent upturn in the MGN share price. On Friday shares closed at 112p just 13p short of the group flotation price in May 1991. When trading resumed last July they stood at 50p.
Last year Lord Hollick attempted to form a consortium to take a shareholding in MGN. The weekend reports suggested he was trying to reactivate a consortium.
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