Metro offloads Finnish operation

Newspaper group Metro International is to sell its Finnish operation, Metro Finland, to Finland's biggest newspaper firm, Sanoma, according to a press release from Metro.

The deal, which Metro says does need approval from the competition authorities, is expected to be closed on September 1st.

Metro Finland, with 39 employees and a net turnover of 5,76 million euros last year, distributes the free newspaper 18 cities in southern Finland. The value of the deal was not mentioned in the press statement.

Sanoma plans to continue publication of Metro in Finland alongside its own free paper Uutislehti 100.

The transaction will mean a positive contribution to Metro International’s results for the year’s third quarter.