Metro International to sell off more titles

STOCKHOLM - Metro International, the free newspaper publisher, is in talks to sell its titles in Italy and Portugal.

Metro boss Jensen... leading strategy change
Metro boss Jensen... leading strategy change

The newspaper group, which recently announced plans to sell its loss-making US newspapers, said that losses last year in Italy and Portugal totalled €2.5 million.

Metro, which is currently attempting to attract a new wave of investment through a rights issue, also revealed that its sales in April declined by 18 per cent against the same month last year to €19.2 million.

Led by the chief executive, Per Mikael Jensen, Metro said that sales in May are expected to decline by 9 per cent.

The publisher, which produces a free newspaper in 100 cities across 18 countries, is hoping that its strategy of consolidating in Europe will pay off.