O’Brien increases INM stake to just over 11%

DENIS O’BRIEN has increased his stake in Independent News & Media (INM) to just over 11%, valued at close to €180 million.

According to a stock exchange statement made yesterday, Mr O’Brien now owns a little more than 81.5 million shares in the newspaper publishing group. The move enhances his position as INM’s second largest single shareholder, with only group chief executive Tony O’Reilly holding a bigger stake.

Since late September — the last occasion when Mr O’Brien invested in Independent shares — he has purchased another 4.6m shares, building up his personal stake in the company to 11.0063%. Tony O’Reilly owns around 205.2m shares, which equate to a holding of around 27.7%. The third largest shareholder in INM is Barclays Bank with 47.2m shares, or a 6.38% holding in the group.