Mirror Group Newspapers said yesterday that it was reserving its right to increase its bid for Newspaper Publishing, the owners of The Independent newspaper. (Newsline 3/2/94).
The MGM consortium which includes the Independent’s editor-in-chief Andreas Whittam Smith as well as El Pais of Spain and La Repubblica of Italy, is considering increasing its bid following talks with the takeover Panel yesterday.
An early decision is unlikely as talks between Ian Hay Davison the chairman of Newspaper Publishing and all parties concerned are not due to be completed before next week. Further bids are unlikely before these talks are concluded.
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