The US hedge fund, Tiger Management, has shelved its plans to sell its remaining 40 million shares in Jefferson Smurfit. It is understood that NCB and NatWest had assembled buyers of the stock at 140p a share, but not enough to buy the entire block of 40 million shares.

This has been the second effort by Tiger to unload the shares. Earlier, Davy and UBS were unable to find sufficient buyers. Market sources say that Tiger has now withdrawn the offer and is likely to return when there is better demand for the shares. Market Report, Page 6; On the Margin, Page 18