Irish Billionaire Shareholder Ups His IN&M Holding

27 March 2008

DUBLIN: Irish telecoms billionaire and "dissident shareholder" Dennis O'Brien (pictured) has again upped his stake in the Independent News & Media group, which publishes UK daily newspaper The Independent and its weekend sibling The Independent on Sunday.

O'Brien now holds 22.1% of the firm's stock, still short of the 25% he needs to call emergency shareholders' meetings and block resolutions.

He has been putting pressure on IN&M's ceo and biggest stakeholder, Sir Anthony O'Reilly, to dispose of loss-making titles and has questioned the value of investments in South Africa and Australia.

Data sourced from Financial Times Online; additional content by WARC staff