Sunday, 6 September 2009

Axel Springer to rescue Independent?

The Sunday Times says today that Independent News & Media, publisher of the Independent and Independent on Sunday, has held talks with Axel Springer in recent weeks to see if the German media company could become its largest shareholder.
The ST says: "They have discussed Springer backing a rescue rights issue that would dilute the holdings of Independent News & Media (INM) founder Sir Anthony O’Reilly, who owns 28% of the group, and Denis O’Brien, his arch rival, who holds 26%."

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