Statement of John
Fairfax Holdings on
sale of AAPIS stake in Vodafone
SYDNEY, June 29,
1999 – Mr Fred Hilmer, Chief Executive
Officer, John Fairfax Holdings Limited [ASX:FXJ],
today issued the following statement on the sale
by AAP Information Systems (AAPIS) of its stake
in Vodafone:
“This
transaction is consistent with our policy of
disposing of non-strategic assets and providing
value to our shareholders, and we are pleased to
see it concluded favourably.”
Mr Hilmer said
that Fairfax, which owns 43.4% of AAPIS, will
receive approximately $60 million after tax, with
the transaction accounted for as an abnormal item
in the financial year ending June 30, 1999.
--
ENDS --
Note
to editors
John Fairfax
Holdings Limited [ASX:FXJ] is Australia's leading
publishing group. Its mastheads include The Sydney
Morning Herald, The Australian Financial Review,
The Age, The Sun Herald and BRW. In
addition, the Company publishes financial and
consumer magazines and provides online services.
In 1998, the Company had revenues of over $1.1
billion. Fairfax is Australia's leading content
provider on the Internet, with nearly
1 million page views, and 140,000 site
visits, per day.
For further
information, please contact:
Bruce Wolpe
Manager, Corporate Affairs, Fairfax
(02) 9282 3640
