Divestment of share in Asker og Bærums Budstikke

Schibsted ASA (SCH) , Published 23/02/2007 08:52:58

Schibsted has today sold all their 1,039,560 shares in Asker og Bærums Budstikke ASA for NOK 46 million. The stake corresponds to an ownership of 10.1%. The buyers are Asker og Bærums Budstikke ASA, 1,030,000 aksjer, and Stiftelsen Magnus Blikstads Stipendiefond, 9,560 shares. Schibsted will have an accounting gain from the disposal of approx. NOK 25 million.
The background for the sale is the positive decision on all the Extraordinary General Meetings for the Media Norge parties on 15 February 2007. Preliminary estimates from The Norwegian Media Authority indicate that should Media Norge become a reality, Schibsted is likely to exceed the ownership limit of one third of the newspaper circulation based on the 2006 figures. The divestment of the stake in Asker og Bærum Budstikke is aimed at reducing Schibsted’s market share.
Contact persons:
CFO Trond Berger, tel.: +47 91 68 66 95
EVP Schibsted Norway Birger Magnus tel.: +47 90 03 00 93
Oslo, February 23rd, 2006