By Elizabeth Wilmot

SINGAPORE Press Holdings' (SPH) subsidiary SPH AlphaOne is to sell its entire 35 per cent stake in China's leading owner of advertising billboards, Tom Outdoor Media Group (OMG).

SPH disclosed yesterday that the shares would be sold to Tom Outdoor Media Holdings for HK$60 million (S$11.3 million) in cash.

SPH originally invested US$26 million (S$38 million) in the share purchase in early 2006.

For more The Straits Times stories, click here.