THE leasing company based in Shannon, Yeoman International, has emerged as the third biggest shareholder in the glass bottle company Ardagh, after buying 2.7 million shares in the market last Tuesday at a cost of £3.7 million.

This gives Yeoman a 7.95 shareholding in Ardagh, bigger than other shareholder apart from the McGrath family interests, which hold 29.4 per cent, and the British packaging group Rockware, which holds 21.4 per cent.

A spokesman for Yeoman would not comment apart from saying: "This is a good value investment for Yeoman." A spokesman for Ardagh would make no comment, although it is understood that the company also sees the Yeoman as an investment without any ulterior motive. Certainly it is difficult to see anybody making a hostile move for the company without having the support of one of two big shareholders.