Denis O'Brien has raised his shareholding in Independent News and Media Group to 5 per cent, according to a statement released by the company today.
The entrepreneur now holds 38.6 million ordinary shares of €0.30 valued at €125 million, giving him 5.06 per cent of the company, up from the 3 per cent stake he acquired in January last year.
The O'Reilly family owns just under 27 per cent of the group
Last September Independent Group said revenues from its Irish operations grew 2.3 per cent to €201 million while operating profits rose 4.5 per cent to €46.7 million.
At 1.45pm Independent News and Media shares trading down 6 cents at €3.20 in Dublin.
Dublin-based Independent, which publishes 175 newspaper and magazine titles across the globe including the Irish Independent, Sunday Independentand Evening Herald.