O'Brien ups his stake at Independent News and Media

Independent News and Media has announced that Irish businessman Denis O'Brien has increased his shareholding in the communications company from 3% to 5%, increasing his stake to €125m.

The Independent group, worth €2.4bn, publishes the Sunday Independent, Irish Independent and the Evening Herald.

Fellow Irish entrepreneur Tony O'Reilly and his family currently own 27% of the Independent group which has interests in radio, newspapers and advertising in Australia, New Zealand, South Africa and more recently India.

Shares at Independent News and Media were down 1.23% at €3.22 at 3.20pm today.