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Ringier unit in talks on raising stake in Hungary’s biggest broadsheet

The Hungarian unit of Swiss publishing giant Ringier is in talks on raising its stake in Nepszabadsag, Hungary’s biggest broadsheet, by acquiring a 27.7% stake from the Free Press Foundation, Ringier Kiado managing director Attila Mihok told MTI on Thursday.

Asked to comment on news of the resignation of the Free Press Foundation’s chairman, Mr Mihok confirmed Ringier’s intent to acquire the stake. It is also well known that Ringier wants to acquire the 2% of the paper held by its journalists, he added.

Ringier Kiado holds more than 70% of Nepszabadsag at present.

Free Press Foundation chairman Gyorgy Foldes told MTI he resigned because of the decision to start the talks on the sale of the stake.