Irish Financier Quietly Ramps Up Stake in INM
Desmond's 2% stake comes as surprise
Dermot Desmond, one of Ireland’s wealthiest businessmen, made headlines this morning with the news of his more than 2 percent stake in Ireland’s Independent News & Media. He now owns 11 million shares of the company, making him one of its biggest shareholders.
Desmond’s stake comes as a surprise to most, but sources reveal a quiet and calculated acquisition strategy. Using his private equity company, International Investment Underwriting, Desmond started acquiring shares of the media organization in January, with purchases quickening in the past few weeks.
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