GRANADA, the television to hotels group which last month took over Forte in a £3.9 billion sterling deal, snapped up a major stake in Yorkshire Tyne Tees Television, fuelling speculation that a full scale takeover bid is on the cards.

But Granada stressed it had no present intention of making, such a move unless a rival company launched a bid or if it built up a stake of 20 per cent or more.

Granada spent £31.6 million sterling on a 6.12 per cent stake in Newcastle based YTTV, taking its total holding to 19.99 per cent. In a separate move, a company jointly owed by Granada has bought a 3.88 per cent stake in YTTV at a cost of just over £2 million.