Englands’s largest player within classified ads on the Internet has acquired a part ownership in FinnTech and will in the future use FinnTech’s technological platform. Behind the market portal Fish4 are five of England’s largest regional media Groups and these publish 636 newspapers. The Group represent a total of 80% of England’s regional newspaper market.
Fish4 acquires 25% of the shares at the same price as Daily Mail & General Trust earlier paid to get into the partnership. The new ownership structure will be as follows: Finn.no will continue to own 50% and Daily Mail and Fish4 will each own 25%. Aftenposten AS owns 62% of Finn.no AS.
Fish4 will pay between NOK 10 and 15 million yearly to FinnTech. The agreement runs for 5 years.
Oslo, May 22nd 2003
SCHIBSTED ASA
Elisabeth Blom Tindlund
Investor Relations Officer