Granada weighs its options

BRITISH television and leisure company Granada kept investors guessing yesterday as the January 9th deadline for it to raise its £3.3 billion sterling bid for hotels company Forte loomed. Under British takeover rules, Granada has until Tuesday to improve the initial bid tabled in November for Britain's biggest hotels group. Granada must decide whether it can afford to sweeten the bid by the 15 per cent analysts say will be required - or admit defeat. It is also known to be involved in delicate negotiations with representatives of the Council of Forte, a group of eight independent trustees who effectively hold a "golden share" in Forte.