Independent News & Media has informed the stock exchange that Denis O'Brien now holds just over 3% of the company.
A statement said Mr O'Brien now held just under 22.6 million shares in the company.
Mr O'Brien set up the telecoms group Esat, which he sold to British Telecom for €2.4 billion in 2000, and is now best known for his radio interests and his Caribbean mobile phone company Digicell.
