Indo considers sale of Australia shareholding

Independent News & Media (INM), publisher of the Irish Independent, is considering the sale of its 39.1% shareholding in Australasian media company, APN News & Media.

INM has been a shareholder in APN since 1988.

INM said today it had received "unsolicited approaches" regarding its 191.5 million shares and had appointed Goldman Sachs to advise on a possible sale.

The company added that a sale of APN would reduce its debt from its current €1.4bn to under €600m.