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The Guardian - UK
The Guardian - UK
Business
Roy Greenslade

Monty sounds the retreat

David Montgomery's expansionist aims are over. His newspaper publishing company, Mecom, is in retreat. The Financial Times reports that the company is in discussions with a German rival - M DuMont Schauberg of Cologne - to sell off the Berliner Zeitung, Hamburger Morgenpost and other titles for about €170m (£153m). Shares in Mecom, which is struggling to meet its debt covenants, today reached 1.40p, up from a low point of 0.67p.

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