Axel Springer leaves the stock exchange after 35 years
The media and technology group Axel Springer is leaving the stock exchange after 35 years. As of the end of April 6, shares in the company can no longer be traded on the Frankfurt Stock Exchange, the publisher of Bild and Welt announced on Wednesday.
The company expects that this will soon also apply to the Berlin, Düsseldorf, Hamburg, Hanover, Munich and Stuttgart stock exchanges, as well as Tradegate Exchange. "The departure from the stock exchange heralds a new growth phase for us," said Springer CEO Mathias Döpfner.
"As soon as the situation returns to normal after the Corona crisis, we will put all our focus on our ambitious goal," said the Group CEO. Springer is aiming to become the world market leader in digital journalism and online platforms for jobs and real estate ("digital classifieds"), for example.
The largest shareholders at Springer, ahead of the publisher's widow Friede Springer, are U.S. financial investor KKR with around 47.6 percent. With the Americans behind them, the Berliners want to invest in long-term growth and until recently also had their sights set on acquisitions. Because of the Corona crisis, however, Springer has already revised its forecast for 2020. (SDA)
