June 3 (Bloomberg) -- Metro International SA, the publisher of free newspapers in 21 countries, said it will focus on consolidation in Western Europe and North America in coming years and target growth in Russia, Latin America and Asia.

``We're looking at about 30 new markets, not saying that we will launch in all of them,'' Chief Executive Officer Per Mikael Jensen said in a telephone interview, mentioning Ecuador, Colombia, India, Malaysia and China as examples. ``The majority of launches will be franchise partnerships.''

Jensen said it's ``realistic to plan for double-digit growth'' in markets such as Russia, Latin America and Asia. The company is holding a capital markets day in Amsterdam today, where it will discuss strategy.

Metro International, led by Jensen since November, spearheaded the concept of free newspapers more than 13 years ago and has expanded throughout Europe, Asia, North and South America. The company is struggling to reach profitability in the U.S. amid a credit crunch and has eliminated jobs in New York, Philadelphia and Boston to cut costs.

``We're looking at all options for the U.S. business,'' Jensen said. ``It would be the worst timing in 25 years to sell a media company in the U.S. today.''

Metro is gaining market share as conditions in the U.S. deteriorate, Jensen said. ``We'd like to consolidate that market.''

Jensen said one option is to create a national organization of free newspapers to collaborate on sales in the U.S.

Jensen reiterated the company aims to reach profit for full-year 2008. ``It's a tough ambition,'' he said.

To contact the reporter on this story: Maria Fredriksson in Stockholm at mfredriksson@bloomberg.net

Last Updated: June 3, 2008 07:37 EDT