Businessman Denis O'Brien says that he respects Dáil privilege, as long as it's not exploited in order to damage someone else's reputation.

In a statement this afternoon Mr O'Brien said that this is particularly the case when that person doesn't have the right of privilege to defend their reputation.

He was responding to comments made this week about his decision to take legal action over statements made in the Dáil by TD Catherine Murphy.

He also said he agreed with a statement from the Dáil Committee on Procedure and Privileges which asserted that someone's good name is a fundamental right.