O’Brien increases INM shareholding to 22.15%

Businessman Denis O'Brien has increased his shareholding in the Independent News & Media group.

The billionaire tax exile has informed the group's board that he now holds 22.15% of the total number of voting shares in the company.

O'Brien is currently attempting to wrestle control of the media empire from Tony O'Reilly.

Last year, he called on Mr O'Reilly to sell his controlling 28% stake in the company, claiming he was running an "old-style fiefdom".