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Axel Springer buys 76 pct of Poland's Onet portal

Poland's TVN commercial media group said Monday it had sold 76 percent of Onet, a major Polish Internet portal, to Germany's Axel Springer media for nearly 969 million zloty (220 million euros, $275 million).

A major commercial media player in Poland running several TV stations, TVN said in a statement it will continue to hold the remaining stake.

Axel Springer, publisher of Germany's Bild-Zeitung tabloid daily, already owns Poland's top-selling tabloid daily Fakt, and controls 49 percent of the Infor PL publishers focused on business news.