16 Dec 2012

Fairfax to sell Trade Me - report

4:54 am on 16 December 2012

It is being reported in Australia that Fairfax Media is selling its remaining stake in Trade Me for $A650 million to leave the company debt free.

The sale is reported in The Australian newspaper, which is owned by News Ltd.

The paper said Fairfax is selling its Trade Me stake to a range of Australian and New Zealand institutions.

The sale proceeds amount to more than the company paid for Trade Me some five years ago.