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Ringier sells Ukrainian publications to Romanian top billionaire

de Radu Rizea
Vineri, 19 septembrie 2008, 0:21 English | Business

Swiss media group Ringier officially confirmed on Thursday the sale of its Free Media Ucraina subsidiary company to Adevarul Holding SRL, a company owned by the Romanian oilman Dinu Patriciu, owner of Rompetrol. The transaction was also confirmed by Adevarul SA. Later in the day, journalist Catalin Tolontan spread (via his blog) a rumor on a possible sale of Ringier titles in Romania towards Adevarul SA, even up to a complete closing of all Ringier operations in Bucharest.

A release issued by Ringier points at the fact that the Ukrainian market didn't meet the expectations of the group.

The release issued by Adevarul shows that the step made towards Ukraine is a first in the Romanian publishing history and an important stage in the Adevarul development strategy.

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