‘No point’ putting ICG bids to shareholders

THE independent directors of Irish Continental Group (ICG), which owns Irish Ferries, are refusing to put the two counter bids of €22 per share to shareholders, they said last night.

Unless the bidders come to some understanding on the bid the directors see no point in putting the offer to shareholders.

Both parties can block each other’s €561 million bid for the shipping group because they each hold more than 20% of the share capital.