Metro International, the global publisher of free commuter papers, on Friday announced it will increase its stake in its joint venture in Mexico, Editor & Publisher reported.

Metro cooperates with Publicaciones Metropolitanas S.A. De C.V., called Publimetro, in Mexico, which owns a free title in Mexico City.

According to Metro, it exercised an option to increase its stake in Publimetro from 35 percent to 49 percent, E&P reported.

"Metro Mexico has achieved a strong position in a competitive market. Consistent with our group strategy, we intend to continue to focus on growing and expanding our presence in the Latin American region," Robert Patterson, executive vice president of Metro International, said in a statement.