Metro International has become the majority shareholder in the St. Petersburg Metro, owning 58.5 percent combined shares and capital in the Russian freesheet, which will now function as a franchise of its parent company, Newspaper Innovation reported.

Metro International has also offered an update on its sale of U.S. titles to Seabay Media Holdings, saying the deal should be finalised by 3 June this year.

The expected sale of the company's Portuguese and Italian subsidiaries is eminent, as Metro has reported being in ongoing discussions with potential buyers, according to Newspaper Innovation.

A press release issued by Metro International announced its software development operations may also be up for sale saying, "the potential divestment will consist of the IP (intellectual property) for all the internally developed advertising and production systems currently in use in Metro International's operations."