Telegraaf Media Groep is leaving the Amsterdam stock exchange after over 40 years. Belgian publisher Mediahuis now holds 98.5% of TMG shares and is seeking the de-listing, the company said.

TMG was first listed on the Amsterdam stock exchange in the early 1970s as NV Holdingmaatschappij De Telegraaf.

Mediahuis acquired a majority shareholding in TMG last year and its stake has since increased to 98.5%. If the procedure goes as planned the newspaper group will lose its Euronext listing within four weeks.

Shareholders who have not yet cashed in their TMG shares will be able to do so in the coming months.

Mediahuis acquired TMG after a conflict with television magnate John de Mol who was also bidding for the group. De Mol sold his 25% stake in TMG in mid-December according to the register maintained by stock exchange watchdog AFM, the Financieele Dagblad reported on Friday.