In short

Today's other stories in brief

O'Brien may have raised IN&M stake

At least 12 million Independent News & Media (IN&M) shares worth €41.4 million traded in one block yesterday amid speculation that telecoms entrepreneur Denis O'Brien was yet again increasing his stake in the company.

Two trades of 12 million units - each equal to just over 1.5 per cent of the company - were recorded on the Dublin Stock Exchange, bringing the daily total to 25 million, but dealers said the second print was likely a misprint.

Last month Mr O'Brien placed an order with Goodbody stockbrokers to purchase 5 per cent of the company, but the broker has not yet fulfilled the order.

Increasing his stake to 10 per cent would make Mr O'Brien the single biggest shareholder in the company after Sir Anthony O'Reilly.

The shares closed little changed yesterday, down just one cent, at €3.43.

Separately IN&M also said it had sent shareholders details of the proposed acquisition of the remaining shares it does not already own in Australian media group APN.

IN&M also called an extraordinary general meeting for May 18th for shareholders to vote on the transaction.

Telindus plans to create 20 jobs

Telindus, the technology services subsidiary of Belgian telco Belgacom, has announced plans to create 20 new jobs in Dublin and Belfast.

It is investing about €4.5 million in its expansion in the Irish market and will be recruiting sales and technical staff. Telindus had a turnover of €702 million in 2006 and employs over 2,700 staff in Europe and Asia.

Sir Gerry Robinson

A picture of Sir Gerry Robinson speaking on Friday at the Irish Management Institute conference was inadvertently replaced in Saturday's edition with a picture of Prof Dave Ulrich of the University of Michigan speaking at the same event. The error is regretted.