Independent News & Media chief executive Tony O’Reilly has bought another million shares in his company, in a bid to shake off “dissident shareholder” Denis O’Brien’s attempts to grow his stake.
The move, confirmed in a regulatory filing with the Irish Stock Exchange yesterday afternoon, gives O’Reilly a 26.75 per cent stake in the Independent publisher, and has cost him a further â‚¬2.08m (£1.65m).
Irish billionaire Denis O’Brien, meanwhile, has refused to respond to journalists’ questions about his ongoing conflict with the Independent News and Media board, according to the Irish Times.
The Communicorp boss, who was in Dublin yesterday to sign a new 10-year licence for his nationwide radio station Today FM, was asked by reporters about his plans for IN&M, which has branded him as a “dissident shareholder”. He declined to comment.