Metro divests in Korea
Metro International sold its share in the free Korean Metro newspaper to two of the other shareholders on December 29.
Metro had a share of 29.99 % in Metro Korea and sold these shares for €4.9 million.
Metro Seoul was launched in 2002, during the World Championship Football; a year later a Pusan edition was added. Total circulation in Korea is 700,000.
The paper started as a franchise but Metro International acquired a 5% share in 2004; in 2005 the share was extended to 29.99%. Metro Korea will now again continue as a Metro franchise.