O’Brien increases stake in IN&M

DENIS O’Brien has upped his stake in Independent News & Media to just over 5%.

The telecoms entrepreneur last year spent €52 million of his fortune buying an initial 3% of Independent’s shares.

Independent announced yesterday that Mr O’Brien, who has not commented on his investment in company, owns 38.6 million shares, or 5.06%. Mr O’Brien’s holding in the company is valued at around €120m.