Sale or float among options for Trade Me

Australian media company Fairfax is undergoing a company-wide review which will include examining options for its New Zealand auction website Trade Me.

Fairfax general manager for investor relations Frank Sufferini told Radio New Zealand Trade Me is being reviewed along with the rest of the media empire, which includes the Dominion Post and Press newspapers.

Reports in Australia suggested a possible float of the Trade Me site is also one option under consideration.

Trade Me was acquired by Fairfax in 2006 in a $700 million deal and the auction site is now valued somewhere between $1 billion and $1.5 billion.

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