P523ORACLE 523 Mon23 Dec C4 9714:54   P&O HOLDS BACK FROM  EURO FERRIES BID P&O, the diversified shipping group headed by Sir Jeffrey Sterling, has held back from announcing a full bid for European Ferries. But it has taken a further 10% stake in a £36m deal with two Euro Ferries directors, which will leave it with 20.8% of the property-to-shipping group Sir Jeffrey declined to comment on whether a bid may fgllow and described the holding as "a strategic investment! The purchase fits his corporate ojective of increasing P&O's interests in property, particularly in the US. FREE GIFT FROM GRATTAN ON 193(ITV)