Metro International, “the world’s largest international newspaper,” has announced that its equity stake in Metro Czech Republic will decrease from 40.0% to 6.7% due to a decision not to participate in a capital increase.
“The decision not to participate in the capital increase is yet another step in the strategy where Metro aims to focus on emerging markets. Metro Czech Republic will become a franchise operation from now on,” the publisher said in a news release.
Metro sold 60% of Metro Czech Republic in December 2007 to Mafra Media Group, a German media conglomerate. Since Mafra committed fully to the recent capital increase, their equity stake has increased to 93.3%.
Published in over 100 major cities in 22 countries across Europe, North & South America and Asia, Metro claims to be the largest international newspaper in the world with 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.