The British venture capital company 3i has expressed an interest in buying further newspaper assets in Ireland following its £46 million sterling (€66 million) purchase of Trinity Mirror's Irish titles.

Mr Robin Marshall, 3i director said: "There are big opportunities in Ireland for us to grow our business and we hope to pursue some of them."

He said with the Trinity Mirror titles based in the North and the Republic, 3i would study acquisition opportunities North and South. He said British companies such as Scottish Radio Holdings and Dunfermline Press had made major acquisitions in the Republic already.

"There are many exciting opportunities to consolidate across the Irish market, replicating what we have seen in Britain over the last 10 years," he said.

Following a review by chief executive Ms Sly Bailey, Trinity Mirror has agreed terms to sell the titles to 3i. The venture capitalists managed to beat off competition earlier from Thomas Crosbie Holdings and Independent News & Media. Archant, the British regional newspaper group which invested in the Dublin Daily News was also unsuccessful in its bid.

An adviser on the deal was former Mirror Group chief executive Mr David Montgomery. 3i said Mr Montgomery would continue to advise the group but would not have a role in managing the papers directly.

Welcoming the sale, Ms Bailey said: "These are tremendous assets to own but for Trinity Mirror there was limited strategic fit. We were pleased with the high level of interest in these titles, and believe we have achieved a good price and realised value for our shareholders by their disposal."

Trinity Mirror owns two newspaper groups in the North: Century Newspapers Ltd and the Derry Journal Group. Century comprises the staunchly unionist News Letter and the Belfast News and Farming Life.

The Derry Journal Group consists of the Derry Journal, the Donegal Democrat, the Letterkenny Listener and the Foyle News. Trinity Mirror used to own the Sunday Business Post but sold it two years ago to Thomas Crosbie Holdings.

The transaction is subject to Competition Authority approval and it is expected the disposal will be completed by early 2004.

On the future structure of the papers, Mr Marshall said: "3i is delighted to be able to back existing management to grow these titles.

"They are a talented and dynamic team who have a significant track record of success.

"The economy in the North of Ireland is experiencing strong growth, and successfully-run local newspapers will undoubtedly benefit."