Irish media group Independent Newspapers hopes to raise around I£106m (£108m) through a one-for-three rights issue. This involves shareholders being offered one new share for every three previously held.
Whilst the precise reason for the cash-call is not known Tony O’Reilly, who controls the Dublin-based company, hinted that he might be looking for acquisitions in other media such as radio and television.
Independent Newspapers: 00 353 1873 1666
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