Bids for INM’s African assets prepared
While INM did not comment on matters over the weekend, an industry source suggested INM seemed to be making “encouraging” progress on selling the asset and that any deal — while unlikely to fetch the figure of €250m bandied about earlier this year — could go a long way in helping INM’s management restructure its debt with its lenders.
The South African assets include titles such as the Pretoria Times, The Cape Times, and the country’s largest property website. While management has only relatively recently spoken about the sale, a disposal of the South African operations have been speculated upon since early summer.
