The Finacial Times is reporting that Mecom has rejected an approach from Dutch banks Rabobank, ING and ABN Amro proposing that Mecom sell close to 50 per cent of its stake in Wegener, the group’s Dutch subsidiary and the largest publisher of regional daily newspapers in the Netherlands.
Mecom reported full-year revenues down 2 per cent to €1.41bn (€1.46bn) while losses, after exceptional items relating to cost-cutting and depreciation and amortisation of software, narrowed to €73m (€146.2m).
UK, London
Related articles:
- David Montgomery forced out as chief executive of Mecom after pressure from shareholders Posted on September 10, 2010
- Mecom exceeds market expectations Posted on August 13, 2010
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