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In brief

Oil firm Petroceltic will hold an extraordinary general meeting (EGM) at the Herbert Park Hotel, Dublin at 2.30pm on September 7, on the back of a request from 29pc shareholder Worldview.

The board of the company and Worldview have been involved in a long-running dispute over strategy and leadership.

Resolutions propsed by the shareholder are incompatible with Irish law but the board is obliged to hold the EGM sought by Worldview, Petroceltic said.

In February, at an earlier EGM Petroceltic's Brian O'Cathain saw off a move by Worldview to oust him.

Citroen Ireland deal

UK firm IM Group has taken over Citroen Motors Ireland for an undisclosed sum.

The deal sees IM Group take on the Airside retail operation in Dublin and gives the group the rights to import and sell Citroen and DS models throughout the Republic of Ireland.

IM Group will complete the acquisition on September 30 next.

Vehicles will continue to be sold through the existing Citroen/DS dealership network.

Chris Graham will become managing director to oversee the transition and establish the Irish operation as a separate company within the Group.

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Under the terms of the acquisition, all employees at Citroen Motors Ireland will become employees of IM Group.

The new organisation will be operated separately from IM Group's existing brands.

Apple phone denial

Apple, the world's most profitable mobile phone maker, has denied working on a plan to market communications services directly to consumers and bypass the telecom companies on which it has long relied to sell its products.

Business Insider had on Monday reported that the iPhone maker was testing a so-called mobile virtual network operator service in the United States.

The idea would involve Apple renting capacity from one or more network operators to sign up customers to its own phone and data plans.

The mobile phone maker is also in talks with European operators about such an arrangement, the website reported.

"We have not discussed nor do we have any plans to launch an MVNO," said an Apple spokeswoman in a statement yesterday.

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