Board reassurances fail to boost INM shares

Shares at INM sank 15c today to €2.80 as members of the board met today and collectively rebutted criticism of the company by its biggest shareholder Denis O'Brien.

Chairman of the board of INM Brian Mulroney asked why would Denis O'Brien would invest $500m (€321m) in a 25% stake if he didn't think it was a "fine company and a fabulous investment" and that some may see this as hinting at ulterior motives on Mr O'Brien's part.