The World: Munich - Mecom buys Dutch newspaper group LMG

Mecom, the investment company owned by the former Mirror Group chief executive David Montgomery, has bought the Dutch newspaper publisher LMG for £140 million.

During the past seven months, Mecom has also bought the German publishing groups Berliner Verlag and Hamburg Morgenpost. The company also holds a small stake in the Scottish broadcaster SMG.

Mecom was set up by Montgomery in 2004 and floated on the AIM in March last year. The company is now set to focus on European regional publishing ventures, with the intention of operating them for the long term.