eBay Buying into QXL Ricardo
Published November 12th, 2007
After recent speculation regarding a takeover of QXL Ricardo, it has been reported by Polska, that eBay has started buying a stake on the open-market. Polska cites traders involved in executing the purchase as the source of this claim.
For eBay, an acquisition of QXL would not only represent the opportunity to further penetrate high-growth Eastern European markets, it would also prevent QXL from falling into the hands of a competitor like Alibaba, trying to get into Europe. QXL Ricardo owns Poland’s largest auction site Allegro and similar operations in Hungary, Ukraine and Russia, as well as in Norway, Denmark and Switzerland. QXL Ricardo owns Poland’s largest auction site Allegro and similar operations in Hungary, Ukraine and Russia, as well as in Norway, Denmark and Switzerland.
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