Associated Newspapers, publisher of Britain's Daily Mail, is continuing to have talks with Ireland on Sunday. Mr Pascal Taggart, chairman of Ireland on Sunday, told The Irish Times, it is a "50/50 bet" they will come to fruition. He said he would welcome a deal but that "we are a minnow" compared with Associated Newspapers. Asked what stake might be on offer, he said "30 per cent to 40 per cent".

However, he noted that talks have been ongoing for over six months and might be concluded next January or February. Associated Newspapers, he added, would bring a "lot of strength" to his company.

Mr Taggart has a 10 per cent stake in Ireland on Sunday. Established a year ago, it is performing "well ahead" of the budget which envisaged breakeven in year three.