O'Reilly raises stake

Independent Newspapers, the Irish media group chaired by Tony O'Reilly, raised its stake in Newspaper Publishing, publisher of the Independent and the Independent on Sunday, to 29.9 per cent. Dr O'Reilly's group already owned 24.9 per cent following a dawn raid on the company's shares earlier this month. The purchase of an additional 5 per cent from institutional investors - at pounds 3.50 per share - is conditional on approval by the Department of Trade and Industry.