Johnston rules out Trinity Mirror bid

Johnston Press, the acquisitive regional chain, is not planning to bid for Trinity Mirror's regional newspapers, should they be auctioned. Johnston's chairman, Roger Parry, said directors had discussed Trinity's review at a board meeting on Friday but were "not making any approach". Several analysts had seen Johnston as the most likely bidder if Trinity does decide to sell. This news will certainly not please Trinity's ceo, Sly Bailey, a fact betrayed by a quote from one of her company's spokesmen: "It's faintly absurd for anyone to be ruling themselves out of buying assets that aren't even for sale." (Via FT.com)