Entrepreneur Denis O'Brien has increased his shareholding in Independent News and Media from 3% to 5%.
His stake is now worth €125m. In a statement to the stock exchange this morning the Independent group confirmed Mr O'Brien had raised his shareholding.
Tony O'Reilly and his family own just under 27% of the Independent group which is worth €2.4bn which publishes the Irish Independent, Evening Herald and Sunday Independent.
It also has significant interests in radio, newspapers and advertising with operations in Australia, New Zealand, South Africa, India and Britain.
Last year Denis O'Brien took the market by surprise by purchasing 3% of the company. His 5% shareholding of 38 million shares is now worth just under €125m.
Mr O'Brien has not made clear his long term plans, but any attempt a takeover would be difficult with the O'Reillys owning over a quarter of the company.
This afternoon Independent News and Media shares were trading down 4 cent at €3.22 in Dulbin.
