Axel Springer CEO says unlikely to reduce classified ads

FRANKFURT Tue May 6, 2014 4:45am EDT

FRANKFURT May 6 (Reuters) - Axel Springer is very unlikely to reduce its stake in its digital classified ads joint venture with private equity firm General Atlantic.

Chief Executive Mathias Doepfner said that the deal, which was sealed in 2012, can be amended as of 2015 and could include a listing or sale of parts of the company but added no decision has been taken.

"We are in this for the long run," he told reporters when asked what Axel Springers' intentions were. (Reporting by Harro ten Wolde)