By: E&P Staff
Metro International, the global publisher of free commuter papers, said Friday it had exercised an option to increase its stake in its Mexican joint venture, Publicaciones Metropolitanas S.A. De C.V.
Publimetro, as it is commonly called in Mexico, publishes a free newspaper in Mexico City.
Metro said it exercised an option to increase its stake in Publimetro to 49% from 35%.
“Metro Mexico has achieved a strong position in a competitive market,” Metro International Executive Vice President Robert Patterson said in a statement. “Consistent with our group strategy, we intend to continue to focus on growing and expanding our presence in the Latin American region.”