Kinnevik sells local Swedish free newspaper Metro to private investors for SEK 50M.

Media group Kinnevik announced it sold the operations of the free local newspaper Metro for SEK 50 million ($5.6M) to Custos, a company owned by Norwegian investors Christen Ager-Hanssen and Swedish Mats Qviberg.

Metro Sweden edits a free newspaper edition in Stockholm, Gothenburg and Malmö, reaching about one million readers. The company also runs Metro.se, Metro Fashion, Metro Jobs and a student card.

The transaction comes shortly after another one, at the end of 2016, in which the same Custos acquired 25% of Realtid Media for SEK 4M ($430k).