Metro International (“Metro”), the world’s largest international newspaper, today announced that it has increased its stake in Metro St Petersburg from 58.5 percent to 95 percent.
Metro sees Russia as a strategically important market and bought the initial 58.5 percent stake in Metro St Petersburg in 2009. The Metro newspaper has a 27 percent market share of the print advertising market in St Petersburg. Metro has now bought an additional 36.5 percent stake from the two founders of Metro St Petersburg. By increasing the control in the St Petersburg operation, Metro will have a bigger stake of a profitable business and be able to focus even more on a strategic market like Russia.
Metro bought the 36.5 percent stake for EUR5.1m, representing a valuation of 4x EBIT.
For further information please visit www.metro.lu or contact:
| Anders Kronborg | CFO | Tel: +44 7912 540 800 |
| Andreas Thors | VP Operations | Tel: +46 704 15 95 16 |
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ABOUT METRO INTERNATIONAL AND METRO
Metro is the largest international newspaper in the world. Metro is published in over 100 major cities in 22 countries across Europe, North & South America and Asia. Metro has a unique global reach – attracting a young, active, well-educated Metropolitan audience of over 17 million daily readers.
Metro International S.A. shares are listed on Nasdaq OMX Stockholm through Swedish Depository Receipts of series A and series B under the symbols MTROA and MTROB.
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