Kirch is working on an improved takeover offer for the media group. The consortium including private equity funds Morgan Grenfell Private Equity and Hellman & Friedman also remains in contention.
Earlier this month the Italian subsidiary of Morgan Grenfell Private Equity cancelled a planned buyout because of losses at the company.
Breare’s revised offer is believed to be significantly down on the 550p per share he offered in September.
Background checks and research by private equity companies are more thorough than in the smaller companies quoted market, says Aon investment consultant.
The Japanese bank has a strong appetite for hotels: it is also a contender for three out of four Granada Compass chains.
The retail financial services provider was previously owned by Ventura, a subsidiary of Next. Management takes a 10 per cent stake.
Belgian brewer Interbrew is looking for a review of the decision not to allow its takeover of Bass to go ahead.
The media group is not off the hook with its shareholders though.
The EIF is making an E31m investment which will support community objectives such as entrepeneurship and innovation in small and medium enterprises.
NIB Capital, Dresdner Kleinwort Capital and Barclays Ventures join existing investors to back the Irish data storage specialist.