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O'Reilly raises stake in Independent News

Thu Dec 13, 2007 1:44pm EST

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DUBLIN, Dec 13 (Reuters) - Independent News & Media (INME.I) (INME.L) Chief Executive Anthony O'Reilly said on Thursday he had raised his stake in the newspaper publisher, taking his personal holding to 26.12 percent.

O'Reilly said in a statement he bought 1 million shares, or a 0.12 percent stake, on Thursday at 2.165 euros ($3.18) per share.

Irish telecoms billionaire Denis O'Brien has been steadily building up his stake in Independent News in recent months.

O'Brien currently holds over 12 percent, making him the second-biggest shareholder in the Dublin-based group, which operates in Ireland, Britain, South Africa, Australia, New Zealand and India. (Reporting by Jonathan Saul; Editing by Quentin Bryar)



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