Negotiations by SanomaWSOY's magazine publishing subsidiary, Helsinki Media, to purchase Ekonomi och Teknik Förlag AB (E+T), Sweden's largest publisher of professional magazines, have been terminated, as the parties have not been able to find sufficient common ground to enable the transaction to go ahead.

SanomaWSOY announced on September 5 that it had signed an exclusive agreement to negotiate the purchase of E+T from its current owners, Liber AB, the Swedish subsidiary of the Dutch publisher, Wolters Kluwer, and IFFAB, owned by Sweden's engineers associations, which each hold 50% of the company.

"Unfortunately, it proved impossible to reach agreement on the key issues involved," comments Eija Ailasmaa, President of Helsinki Media. "We remain committed to building and expanding our portfolio, and reinforcing Helsinki Media's position as a leading magazine publisher in the Nordic region."