Independent News CEO raises stake to 26.75 pct

DUBLIN, March 31 (Reuters) - Independent News & Media (INME.I: Quote, Profile, Research) Chief Executive Anthony O'Reilly has bought an additional 1 million shares in the company at 2.08 euros each, taking his holding to 26.75 percent, he said on Monday.

Shares in the publisher of Britain's Independent newspaper closed at 2.08 euros, up 5 percent, after the Observer newspaper reported on Sunday that Irish billionaire Denis O'Brien, who has a stake of about 21 percent, plans to buy the Dublin-based company.

A spokesman for O'Brien said he has at no time disclosed his intentions in relation to the stake. (Reporting by Andras Gergely; Editing by Paul Bolding)