ICD says likely to modify Colonial bid terms

MADRID (Reuters) - Investment Corporation of Dubai (ICD) said on Tuesday it would "probably" modify the terms of its offer for embattled Spanish property firm Colonial (COL.MC: Quote, Profile, Research), and that it had proposed that talks with shareholders be restarted.

Earlier, Reuters quoted sources familiar with the situation as saying ICD was still in takeover talks with the indebted property firm, despite ICD earlier saying its offer had expired.

(Reporting by Elisabeth O'Leary; Editing by Jane Barrett)