The new owners of the Jean Frey publishing house have finally been announced, with the lawyer and financier Tito Tettamanti taking 25 per cent of the company.

The swissfirst investment group said the placement of the shares had been concluded successfully just before the Easter holidays.

Tettamanti gave two reasons for his interest in the publishing house. "I am a businessman but I'm also a politically interested citizen," he said.

The Ticino businessman held a seat with the Christian Democratic Party in the Ticino cantonal government and describes himself as a liberal.

"I think it is important to have as many independent newspapers as possible in a democracy. For this reason I believe it is a good thing that the Jean Frey publishing house has not been taken over by another big media company."

Crossmedia from Lucerne has bought ten per cent of Jean Frey's shares. The company's CEO, Heinz Wermelinger, was chairman of Internet business at the German publisher, Bertelsmann.

Shareholders with a minimum share of five per cent include the publisher, Charles von Graffenried, Hans Kaufmann, Wettswil, Ralph Klinger, Flawil, Pierre Mirabaud and Founex.

The Jean Frey publishing house produces the weekly "Weltwoche", the "Bilanz" monthly business magazine and the fortnightly "Beobachter".

swissinfo with agencies

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative