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Metro International Metro International S.A., the international newspaper group, today announces that it has exercised its option to increase its shareholding from 35% to 49% in its Mexican joint venture PUBLICACIONES METROPOLITANAS S.A. De C.V. The legal procedures in connection with the exercise were completed during this week. Metro International will consolidate its interest in Metro Mexico in its Q2 2008 results from May 16, 2008, the effective date of the exercise.
Robert Patterson E.V.P. Metro International S.A. commented: "Metro Mexico has achieved a strong position in a competitive market. Consistent with our Group strategy, we intend to continue to focus on growing and expanding our presence in the Latin American region. In conjunction with our local partners, we look forward to contributing to the further development of Metro Mexico."
Pablo Mazzei, Managing Director of the Latin American region commented: "Metro Mexico continues to perform in line with our expectations. Synergies with our other Latin American Metro businesses as well as the advantages each of the three shareholders bring to Metro Mexico has helped to grow the business rapidly."
For further information, please contact:
Per Mikael Jensen, CEO Tel: +44 (0)20 7016 1300 Robert Patterson, E.V.P. Tel: +44 (0)20 7016 1300 Frank Mooty, CFO Tel: +44 (0)20 7016 1300
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ABOUT METRO INTERNATIONAL AND METRO
Metro is the largest international newspaper in the world. Metro is published in over 150 major cities in 21 countries across Europe, North & South America and Asia. Metro has a unique global reach - attracting a young, active, well-educated Metropolitan audience of over 20 million daily readers. Metro's advertising sales have grown at a compound annual rate of 38% since the launch of the first edition in 1995.
Metro International 'A' and 'B' shares are listed on the OMX Nordic Exchange's Nordic List under the symbols MTRO SBD A and MTRO SBD B.
