Warsaw-listed Polish online retail platform Allegro is reportedly negotiating the acquisition of Czech e-retailer Mall Group, Czech media reported.
The talks are nearing finalization, the Czech economic newspaper Hospodarske Noviny wrote on September 14, citing an anonymous source. The source also said that it was still too early to say that the negotiations would eventually end in Allegro striking a deal.
Allegro was first reported as interested in taking over Mall Group in May. The Czech company’s valuation was estimated at up to €2bn at the time.
Mall Group’s shareholders comprise of PPF, an investment fund founded by the late Czech business tycoon Petr Kellner, who died in a helicopter accident in Alaska earlier this year, as well as billionaires Daniel Křetínský and Patrik Tkáč via EC Investments, and Rockaway Capital, owned by Jakub Havrlant.
Mall Group is Czechia’s second-largest online retailer. It only became profitable last year on the back of the e-commerce boom in Czechia due to the pandemic. In Poland, intermittent lockdowns also led to a surge in online shopping, which also boosted auxiliary services like parcel delivery.
Poland’s Allegro has long been the country’s dominant e-retailer with a market share of around 35%. The company debuted on the Warsaw Stock Exchange in a PLN9.2bn (€2bn) IPO in October, the biggest new listing in Europe at the time.
Related Articles
Renewables could power 80% of data centres, Goldman Sachs says
Renewables can supply the vast majority of power required for the growing demand of energy needed to operate data centres, research by Goldman Sachs published on January 23 revealed. Power demand ... more
Tajikistan jails editor-in-chief of independent publication for 10 years on “trumped-up” charges
The editor-in-chief of Paik, the only independent publication in Tajikistan’s southwestern Khatlon region, has been sentenced to 10 years in prison, Radio Ozodi ... more
Most Read
-
Indonesia expands military role in government, protesters clash with police in Jakarta
1 month ago
-
Serbian biotech Dren Bio sold to Sanofi for $1.9bn
1 month ago
-
US sets six conditions for Iran talks in Trump letter to Supreme Leader
1 month ago
-
Korean opposition to push for impeachment motion against acting president
1 month ago
-
Zero pressure from US as Imamoglu protesters warn Erdogan snuffing out last remnants of Turkey’s democracy
30 days ago