Tuesday 15 October 2019

Mediahuis lifts its INM stake to 29.91pc

Independent House on Dublin's Talbot Street. Photo: Arthur Carron
Independent House on Dublin's Talbot Street. Photo: Arthur Carron
Donal O'Donovan

Donal O'Donovan

Belgian-Dutch news publisher Mediahuis has lifted its stake in Independent News & Media (INM) to 29.91pc. It consolidates its status as INM's biggest shareholder regardless of the outcome of the €145.6m takeover offer already in train.

The stake includes just over 1pc of INM, publisher of this newspaper and other titles, owned by Mediahuis chairman Thomas Leysen before the takeover bid. The company has also been buying shares from Denis O'Brien and Dermot Desmond, who last week each committed to sell their stakes to Mediahuis.

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Last Tuesday, INM's board recommended Mediahuis's 10.5 cent a share bid for INM, which is subject to a vote of shareholders at an emergency general meeting (EGM). A date for the EGM has not been set but is expected within weeks.

Meanwhile, a separate stock market filing shows a fund controlled by billionaire and philanthropist George Soros owns 3.17pc of INM. It bought stock two days after the takeover offer was announced.

Irish Independent

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