The Week: City news - O'Brien plans to buy IN&M

Denis O'Brien, a major shareholder in Independent News & Media and an outspoken critic of the company's management team, is planning a takeover of the business, according to a report in The Observer, and plans to sell off its flagship Independent titles.

Since 2006, O'Brien has increased his shareholding to 22.15 per cent. Last week, Sir Anthony O'Reilly, who currently controls IN&M, spent £15 million to increase his own stake to 27.94 per cent - which is enough to block a full bid. However, if O'Brien gets his stake up to 25 per cent, he will have enough power to disrupt the day-to-day running of the business, and plans to use that fact to persuade other shareholders that O'Reilly should sell his stake.

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