NTR move not hostile

IAWS Co-op boss Philip Lynch has insisted his move on NTR, the toll road to waste management group, was never hostile.

“We didn’t enter the share register as a hostile player and never would. Tom Roche (NTR’s chairman and major shareholder) knew exactly what we were doing,” he said.

Mr Lynch said his decision to take a 26% equity stake in NTR was driven by “value” in the shares.