O’Reilly may take full control of media group
Yesterday, Independent News & Media (INM) disclosed to the Stock Exchange that its share buyback vehicle, the wholly-owned subsidiary Independent Newspapers Management Services (INMS), now holds 1.94% of the company.
The combined shareholdings of Sir Tony circa 26.8%, the board circa 2.6% and INMS 1.94% appears to push the holdings over the key 29.99% level, which under rule nine triggers the requirement for a full bid for thecompany.
