Businessman Denis O'Brien has increased his stake in Independent News & Media plc to just over 7 per cent, it has been announced.
The Irish Stock Exchange issued a statement on Mr O'Brien's increased holding today.
Mr O'Brien notified IN&M on Friday, as he is obliged to do under the Companies Act 1990.
At close of business on Friday, Mr O'Brien had an interest (directly or indirectly) in 55,836,855 ordinary shares of €0.30 each in IN&M, representing approximately 7.28 per cent of the total issued share capital on that date.
The newspaper group is valued at about €2.8 billion, putting a value of some €200 million on Mr O'Brien's holding.
His acquisition of a 3 per cent stake in the group last year was a surprise to the market. He upped that holding to 5 per cent this year.
Dr Anthony O'Reilly and his family own just under 27 per cent of Independent News & Media.