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TIT-FOR-TAT BUYING BETWEEN O’BRIEN AND O’REILLY OVER INM SHARES

January 15th 2008 10:54


Last Thursday Irish broadcaster and telecom billionaire Denis O'Brien increased his stake in Independent News & Media this week, to 16.43 percent from just over 15 percent.
This brought his holdings to just under 130 million shares in the company.
Then, early on Friday O'Brien, raised his stake in the company to 17.044 percent.
Later on Friday Independent News & Media PLC chief executive Anthony O'Reilly bought 1 million shares in the company at Euro 2.36 per share, lifting his stake to about 211.19 million shares, or 26.73 percent. .
O'Reilly is the largest shareholder in the group.

O’Brien has been critical of O’Reilly in the recent past (see MediaBlab archive), and O’Reilly has referred to O’Brian as the “dissident shareholder.”



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