Metro International S.A. (“Metro”) today announced that it has received an offer from its partner in France, TF1, to take control of 100 percent of the shares in Metro France. The offer, which is consistent with the provisions of the existing shareholders’ agreement, is pending on the outcome of the due diligence. The offer is expected to be signed within the coming weeks after consultation with employee representatives.
Metro holds 65.7 percent of the shares in Metro France and the remaining 34.3 percent are held by TF1. Metro was launched in 2002 and is the second largest daily newspaper in France. As a part of the transaction, Metro will continue the franchise agreement with TF1 who will publish the newspaper. TF1 is the largest broadcaster in France and views the transaction as an opportunity to expand its offer of free news and entertainment in all media channels.
Per Mikael Jensen, President and CEO of Metro International, commented: “France is an important market for international advertisers. However, profitability in the free newspaper market has been under pressure. We have a long and constructive partnership with TF1 and we are confident that the Metro newspaper will develop strongly under their control. This deal would allow us to secure the future for a Metro newspaper in France while remaining loyal to our overall target of good margins in all our markets.”
For further information please visit wwww.metro.lu or contact:
Per Mikael Jensen, President & CEO +44 78 4167 3230
Anders Kronborg, CFO +44 79 1254 0800
Linda Fors, Head of Investor Relations +46 704 15 95 30
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.