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Metro International S.A. is a Luxembourg limited-liability company
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Leave to appeal not granted in the advertising tax case
14 March 2011
Metro International S.A. ("Metro" or "the Group"), the international newspaper group, today announced that the Swedish Supreme Administrative Court (Swedish: "Högsta förvaltningsdomstolen") will not grant the Group leave to appeal in the advertising tax case. As a result, Metro will be required to pay approximately €10 million within four weeks from notice.
The case concerns additional advertising tax levied on the Group's publishing entity in Sweden, Tidnings AB Metro, following a decision by the Swedish Tax Authorities in 2007. The additional advertising tax amounts to approximately €10 million including interest. The additional tax was fully provided in the Group's accounts for 2007.
For further information, please visit www.metro.lu or contact:
Anders Kronborg, CFO Tel: +44 79 1254 0800
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ABOUT METRO INTERNATIONAL AND METROMetro is the largest international newspaper in the world. Metro is published in over 100 major cities in 20 countries across Europe, North & South America and Asia. Metro has a unique global reach - attracting a young, active, well-educated Metropolitan audience of 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.