PRESS DIGEST - British business - March 7 =7

O'BRIEN RAISES HIS STAKE IN INDEPENDENT OWNER

Denis O'Brien has lifted his stake in Independent News & Media (INME.I: Quote, Profile, Research, Stock Buzz) from 18.05 percent to 19.35 percent. He has urged the group to ditch its underperforming titles, including The Independent, but remains labelled as a "dissident shareholder" by chief executive Sir Anthony O'Reilly. The relationship between the pair has become increasingly frosty, Sir Anthony's son, Gavin, the group's chief operating officer, saying: "If O'Brien's going to do something, let him do something. All Denis is doing is casually throwing around a couple of hand grenades and then hiding. It's a good story. It's got all the ingredients: intrigue, personalities and all the rest."

Prepared for Reuters by Durrants