The independent directors of Irish Continental Group (ICG) yesterday called on the takeover panel to impose a deadline for the One51 Capital/Doyle Group consortium to clarify its intentions concerning the ferry group.

The consortium had been expected to make a bid for the ferry operator early this week, but on Thursday it emerged that progress was being held up by several concerns, including issues relating to leasing arrangements on some of ICG's ships.

In a statement to the stock exchange as it closed yesterday, ICG's independent directors said that since May 17th - the date the One51/Doyle consortium confirmed the due diligence process was substantially complete - the company and its advisers had worked diligently with the consortium's advisers to finalise matters relating to a possible bid.

However, the independent directors said that given the "significant time" which had now elapsed since the offer period commenced on March 8th, they believed it was now appropriate to seek clarification from the consortium without further significant delay. They said that they were unable to confirm to ICG shareholders a timeframe within which the consortium might make a bid and in fact, until a firm intention to make an offer was announced, there could be no guarantee that an offer would be forthcoming.

The consortium, led by Philip Lynch, has expressed frustration at what it describes as the low levels of co-operation with regard to the normal due diligence process and it is believed they were thinking of making a complaint to the takeover panel themselves.