O'Brien raises Independent News stake further

DUBLIN, Nov 7 (Reuters) - Irish telecoms billionaire Denis O'Brien said on Wednesday he had bought more shares in newspaper publisher Independent News & Media INWS.I INWS.L, raising his stake to 11 percent from 10.3 percent.

The price paid was not disclosed. O'Brien has been building up his holding in recent months and is the second biggest shareholder in the Dublin-based group. O'Brien made his last purchase in September.

Independent News Chief Executive Anthony O'Reilly and his family control just over 27 percent of the company, which operates in Ireland, Britain, South Africa, Australia, New Zealand and India.

Shares in Independent News were trading 6.3 percent lower at 2.22 euros by 1550 GMT, when the Irish market index .ISEQ was down 2.7 percent. (Reporting by Jonathan Saul; Editing by Greg Mahlich)