Saint-Paul Group reduces stake in Freiburger Nachrichten
The Fribourg-based Saint-Paul Group, which publishes, among other titles, the French-Swiss daily newspaper *La Liberté*, plans to reduce its stake in the *Freiburger Nachrichten* from 20 to 5 percent. The *Freiburger Nachrichten* has decided to repurchase the shares.
Specifically, a package of 225 shares is to change hands for 750,000 Swiss francs. In return, Freiburger Nachrichten AG will reduce its share capital. The General Meeting of Shareholders will be able to express its opinion on the sale on May 12.
With the share buyback, the newspaper from German-speaking Fribourg wants to strengthen its independence, as Chairman of the Board Daniel Schorno said in an interview published Tuesday in the Freiburger Nachrichten. At Freiburger Nachrichten, about 430 shareholders hold the 1500 shares. Most of them hold one or a few papers. Most of them, he said, are not interested in dividends, but in supporting press diversity and, in particular, the German-language media in the canton.
Until now, the Saint Paul Group was the main shareholder with 300 shares. Schorno stressed that there would be no need for a majority shareholder in the future. The Board of Directors is convinced that the company can best fulfill its public service mission with a broadly diversified shareholder base. (SDA)
