(Via Greenslade)
The Irish Independent gives a fleeting mention to the fact that Denis O’Brien (owner of Communicorp) has upped his stake in INM from 8.35% to just over 9%.
There’s no details at present on what price he paid for the shares or when exactly they were bought.
Expect O’Brien to continue his slow-creep tactic over the coming months and keep in mind that the O’Reilly family, which runs INM, owns just around 29% of the company itself.
This means that they cannot up their stake without launching a takeover bid but it also means that there is a sizable portion of the company available to whoever is willing to pay the right price.