Independent News & Media (INM) said recently that in Australasia none of its publishing assets are being disposed of. Ireland-based INM said that it was commenting on recent erroneous press reports.

INM said that even in Ireland, Britain and South Africa, the publishing assets were not being disposed of.

Via an announcement, it commented that it was again extending a financial standstill agreement relating to a 200 million euro ($NZ440.81 million) bond.

On May 17, INM at first entered the financial standstill with its principal banks and bondholders. In late June, the standstill was extended and till August 27th it has now been extended again.

INM said: "The standstill would facilitate the continuation of ongoing and constructive discussions between all key stakeholders in relation to the group's financial restructuring."

To meet all working capital requirements throughout the standstill period, the group had enough funding.