Metro International Attracts Interested Buyer

Posted Monday, February 23, 2009 12:00 am

By: E&P Staff Metro International announced that a party is interested in buying the troubled publisher of free global dailies. Metro's major shareholder, AB Kinnevik, informed the company of the offer. The potential buyer was not disclosed.

Metro is scheduled to have a shareholder meeting on Feb. 24 at which the board planned to seek shareholder's authorization to raise new financing through an issue of debentures and warrants with preferential rights.

Now with a potential offer, the board may postpone actions related to more financing.

In a statement, Metro said it was evaluating the bid but "at this stage there is no certainty that this will lead to a public offer for Metro International, and the board of directors of Metro International is not in a position to express any view on the potential bid."

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Metro International Attracts Interested Buyer

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