Sun, Jul 05 2009

Sanoma ups stake in Bulgaria's Netinfo media group

Tue, Jul 08 2008 12:27 CET byElitsa Grancharova 278 Views

Sanoma Magazines International has increased its stake in Bulgarian online media group Netinfo to 82 per cent, receiving the approval of the Commission for Protection of Competition, the company said in a statement.

The Bulgarian media group operates news website netinfo.bg, web-based e-mail abv.bg, video-sharing website vbox7.com and web directory site gbg.bg, which generate a monthly traffic of two million visitors, Netinfo said.

As previously reported by The Sofia Echo, Sanoma Magazines International, a division of Nordic media group SanomaWSOY, bought 68 per cent in Netinfo on April 28. It has also agreed to buy out the remaining 17 per cent of shares, held by a group of venture capital firms and private individuals, by 2011.

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