Denis O'Brien gets 25 per cent of Independent publisher

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Independent News and Media’s “rebel shareholder”, Denis O’Brien, has succeeded in building up his stake in the company beyond the 25 per cent mark.

He now has the power to veto special resolutions at company meetings. If he gets beyond 30 per cent, he is required by Irish takeover rules to make a formal offer for the Independent publisher.

• In other IN&M news, the company has bought a 20 per cent stake in Indonesian media group Abdi Bangsa, worth $7.5m.

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