Irish telecom tycoon Denis O’Brien has raised his stake in Independent News & Media, the owner of the Independent, again....he now owns 22.15 percent, up from the 21.17 percent he declared last week. He has been building up the stake in recent weeks, and under Irish Takeover Panel rules O’Brien would be obliged to make an offer for INM if his stake reached 30 percent, reports Guardian.

Bloomberg: O’Brien is the company’s second-largest shareholder after CEO Tony O’Reilly, who owns 26.7 percent. O’Brien has never said whether he plans to bid for the company. The two men have a history of business rivalry, including a 2001 battle for control of Eircom Group, which O’Reilly won. O’Reilly said he would resist selling the Independent titles, defending them as “substantial calling cards” around the world.