The ISEQ index of Irish shares was down this morning, falling 61.79 points to 6,186.12.

Independent News & Media today announced that all the South African Regulatory approvals for INM’s acquisition of Clear Channel Outdoor’s 50% interest in Clear Channel Independent have been received and the acquisition has been finalised.

The ISEQ-index of Irish shares surged into positive territory this morning charging ahead by 139.94 points to 6627.47.

Independent News & Media (INM) today announced that it has agreed with Clear Channel Outdoor (CCO) to acquire the company's 50% interest in Africa’s largest outdoor advertising company, Clear Channel Independent, based in Johannesburg, South Africa.

A STRONG economy underpinning advertising growth will drive earnings at Independent News & Media, according to Goodbody Stockbrokers who have pencilled-in a 15% increase in the share price over the next 12 months.