Bids for INM titles in South Africa lower than expected

Offers for Independent News & Media's (INM) South African titles have come in at around €150 million, according to a number of sources in the industry.

20th January, 2013
Denis O'Brien: INM's stake in Australian media group APN is once again coming into focus.

Offers for Independent News & Media's (INM) South African titles have come in at around €150 million, according to a number of sources in the industry.

A price tag of €250 million was initially linked to the sale but the offers appear to have fallen short of expectations, compounded by a weak South African rand.

It is understood that pressure is mounting on INM to sell other assets, with the stake in Australian media group...

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