MTG selling online retail business

Broadcast group MTG is selling CDON, its internet retail business, and said it has already received expressions of interest from unnamed parties.

The company has appointed Handelsbanken Capital Markets as an advisor on the sale. CDON comprises a range of internet retailing businesses across various categories in the Nordic countries. MTG said the proceeds of the sale will be distributed to its shareholders. CDON reported revenues of SEK1.7bn (€175m) in 2009.