March 19, 2018 / 10:32 AM / 10 months ago

Axel Springer may decide on possible capital increase in next week - report

BERLIN, March 19 (Reuters) - German publisher Axel Springer may decide on a capital increase this week to finance acquisitions, a German magazine reported on Monday.

“We could initiate a capital increase,” Manager Magazin quoted Chief Executive Officer Mathias Doepfner as saying.

“Also our major shareholders would be in a position to participate in a capital increase.”

The publisher has shifted its focus in recent years, with traditional newspapers such as Welt and Bild becoming gradually less important to its overall business as it moves toward online classified portals such as job site Stepstone.

Doepfner is eyeing acquisitions to fend off competition, the magazine reported.

Asked about possible takeover targets, he said: “Wait and see what opportunities are on offer. More likely are multiple small ones than a big one.”

Axel Springer was not immediately available for comment. (Reporting by Klaus Lauer Writing by Tom Sims Editing by Robin Pomeroy)

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