Several unionist MPs raised strong objections to Independent News & Media's proposed £300 million sterling (€513 million) takeover of the Belfast Telegraph group at a British competition inquiry in Belfast yesterday.

The UUP's deputy leader, Mr John Taylor, who owns six weekly newspapers in Northern Ireland, said his objections were mainly commercial, but he highlighted public concerns among some in Northern Ireland that an essentially unionist newspaper was being taken over by an Irish national daily newspaper group from the Republic.

The Competition Commission is considering whether the acquisition may be expected to operate against the public interest. It is understood that more than 20 submissions were made in writing from individuals and organisations.

Mr Jeffrey Donaldson said the newspaper monopoly that Independent would accrue in the Northern Ireland market would be unfair, particularly in the Sunday newspaper sector.

Independent has said it will preserve the integrity of the existing Belfast Telegraph editorial policy and it has appointed several prominent unionists on a Northern Ireland based board, including Lord Rogan, chairman of the UUP.

The chief executive of Independent News & Media (UK), Mr Brendan Hopkins, told The Irish Times last night that both his organisation and Trinity Mirror (the vendors) were confident the acquisition would not constitute a breach of competition law.

He said Mr Taylor had very significant newspaper interests himself in the North and therefore had a strong interest in the process.

The Competition Commission will submit its report to the British Trade and Industry Secretary Mr Stephen Byers on June 9th.