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Thu 09 Sep 2009Ambitious move, but right on deadline
ANALYSIS:DENIS O’BRIEN’S €100 million investment plan for Independent News Media (INM) marks an attempt to seize the initiative from its chief Gavin O’Reilly following his tentative deal with banks and bond investors to settle an overdue €200 million note, writes ARTHUR BEESLEY
The response of its banks, whose exposure exceeds €1.1 billion, will be pivotal to the eventual outcome. Although much remains unclear about the contours of O’Brien’s plan, he would take a majority stake in the heavily-indebted firm and be empowered to depose its management.
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