Ryan rejects takeover talk
Ireland-based Ryan Hotels has denied rumours that it may become the subject of a takeover bid.
"The board of Ryan Hotels wishes to make it clear that no intention to make an offer has been conveyed to it from any party and it is not in discussions with any party concerning a possible offer," the company said in a statement.
The announcement was in response to recent rises in the company's share price and speculation about a takeover in the Irish press.
Rumours began last month when Israeli-controlled group Red Sea Hotels bought a 16.6% stake in Ryan. They intensified last week after it emerged that Donegal-based hoteliers Brian and Sean McEniff had built up a 5.3% stake.
by David Shrimpton david.shrimpton@rbi.co.uk
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