GRANADA'S chief executive Mr Gerry Robinson described Forte's defence document against his group's £3.3 billion sterling takeover bid as a "quick fix which fails to address the key issues".

In the document, Forte announced plans to spend £800 million buying back its own shares and a commitment to boosting dividends by 20 per cent over the next three years.

Forte promised to deliver what it called significant shareholder - value by transforming itself into a company devoted exclusively to hotels.