Mecom sells Selekt Mail stake for €4m

Newspaper publisher Mecom said Dutch subsidiary Koninklijke Wegener had agreed to sell its stake in Selekt Mail Nederland to Deutsche Post.

Newspaper publisher Mecom said Dutch subsidiary Koninklijke Wegener had agreed to sell its stake in Selekt Mail Nederland to Deutsche Post.

Wegener said this week that Deutsche Post would pay about €4m ($5.2m) for the 49% stake, and the proceeds would be used to strengthen its working capital requirements.

Mecom, which owns around 300 titles in five countries, has been selling assets to reduce debt which has hammered the company’s stock.