Netmedia wanted to buy 33 percent of PTQV, the internet company offering hotel reservations. It gave up. Netmedia is buying another company – Hotele Online. The management plans further acquisitions and considers an issue this year.
“We wanted to acquire PTQV to consolidated the market”, Andrzej Wierzba, Netmedia CEO said.
At first, all three owners of the company agreed for the transaction. In June 2006, the price was settled. Then, however, two owners withdrew and decided not to sell their stakes.
Netmedia plans to have PLN 6.1m (EUR 1.6m) of sales this year, up from PLN 3.52m in 2006. Further acquisitions and an issue to finance them are planned.
(PLN 1 = EUR 0.256)