QXL strengthens its position in Poland

opublikowano: 03-01-2007, 11:19

Warsaw (Puls Biznesu) – The success of internet auction Allegro encouraged its owner, QXL ricardo to further investments in Poland. It is buying a price comparison service.

Warsaw (Puls Biznesu) – The success of internet auction Allegro encouraged its owner, QXL ricardo to further investments in Poland. It is buying a price comparison service.

 

QXL Holding, a subsidiary of QXL ricardo listed in London, is going to buy nearly 75 percent of Ceneo for GBP 875,000. The founders of the price comparison service still have slightly above 25 percent of Ceneo. QXL has a buy option for the stake at the price up to GBP 875,000. The final price should be determined on the basis of Ceneo results in the years 2007-2009. Half of the transaction may be financed with the stock of QXL ricardo.

“The acquisition of Ceneo suits the strategy of the company which is trying to be present on every market with the potential to develop the Polish internet trade”, Arjan Bakker, QXL Poland general director said.

 

QXL Poland is the operator of internet auction system Allegro. QXL has similar ventures in Norway, Switzerland, the Czech Republic, Hungary and Ukraine. But the Polish service generates nearly 48 percent of sales of the whole group.

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