APN News & Media has confirmed it is still reviewing its New Zealand print assets after speculation of a buyer being found fuelled a surge in its share price.
"APN confirms that the strategic review is ongoing, however it has nothing to announce at this stage," the company said in a statement on Wednesday.
APN shares rose by 25 per cent on Tuesday, gaining 8.5 cents to 43 cents, fuelling speculation a deal relating to the company's New Zealand assets was close to being announced.
TToday, they closed down 1.5 cents, or 3.49 per cent, at 41.5 cents
APN prints The New Zealand Herald and owns several magazine and regional newspaper titles.