Tony O’Reilly, who now owns almost 25% of Newspaper Publishing, owner of the Independent papers, has said that a full bid remains an option, although he would prefer to stay a minority shareholder. MGN has also indicated that it reserves the right to increase their offer. (Newsline 9/02)
The statement from O’Reilly was forced by the Take-overs Panel, after reports in the press that the group had no wish to control 100% of Newspaper Publishing. O’Reilly does not wish to restrict its future options, the statement said.
O’Reilly’s group has extended further, buying 31% of Argus Newspapers in South Africa.
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