O’Brien may seek legal advice

AS the bitter battle for control of Independent News & Media continues Denis O’Brien has warned he will seek legal advice if, as expected, his €100 million rescue plan for the struggling newspaper group, is rejected.

The board of the group is due to hold a critical meeting today when it is anticipated that it will overwhelmingly reject the offer made last Friday by Mr O’Brien, who presented a €100m rescue plan to group chief executive, Gavin O’Reilly.

Mr O’Brien’s spokesman said a decision has already been taken by Mr O’Reilly to turn down the proposal. Mr O’Brien owns 25% of the group while the O’Reilly family controls over 28% of the group.