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
ABOUT METRO INTERNATIONAL AND METRO
Metro 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.