We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
 
74,953 News Articles

QXL and Ricardo Merge to Create Euro Auction Giant

Brits and Germans join forces to take on E-Bay

Two of Europe's leading online auction service providers London-based QXL.com PLC and Hamburg-based Ricardo.de AG have hammered out an agreement to merge in a stock-swap deal valued at more than £700 million.

Upon completion of the transaction, the combined company will be called QXL Ricardo PLC, the companies said.

By combining QXL's network of auction sites in nine European languages and currencies with Ricardo's sites in Germany, the Netherlands, Switzerland and the U.K., the merger will create a pan-European auction giant with around 1.2 million registered users.

The QXL-Ricardo pact was announced ahead of today's announcement that Madrid-based ISP (Internet services provider) Terra Networks SA will acquire US Web portal Lycos in a £8
billion stock swap deal.www.qxl.com.


IDG UK Sites

LG G Watch release date, price and specs: Hands-on and pictures

IDG UK Sites

Apple financial results: iPhones, iPads & Macs sales for Apple's Q2 2014, plus shares to split

IDG UK Sites

Twitter - not news

IDG UK Sites

See Moo Studios' new animated advert for Blue Moon beer