O’Reilly attacks O’Brien over stance on INM

AS Independent News & Media (INM) draws closer to a debt-for-equity deal to stabilise its financial woes, the group chief executive Gavin O’Reilly has accused his shareholding nemesis Denis O’Brien of flip-flopping his position with regard to the group’s lifeline.

“He has flip-flopped his position in the past and he may flip-flop again. Who knows?”

The deal in the pipeline would allow ex-chief executive Anthony O’Reilly remain the largest shareholder of the publisher which owns 200 titles around the world.