Denis O’Brien has increased his stake in Independent News & Media, the owner of the Independent and Independent On Sunday in the UK, to 16.4%.
Earlier this week, Independent News & Media announced that O’Brien had already increased his stake in the company from 14.5$ to 15.4% at the end of 2007.
With his 16.4% stake, O’Brien is now the second-largest shareholder in the company.
O’Brien is viewed as a “dissident shareholder” by INM chief executive and biggest shareholder Anthony O’Reilly.
O’Reilly increased his own stake in INM last month, acquiring a further million shares to take his own shareholding to 26.4%.
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