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September 14, 2007
German Online Real Estate Ads Site Valued at Half a Billion Euros
Deutsche Telekom is reportedly paying €360M for the 66 percent it didn't already own of online real estate classifieds site ImmoblienScout24, according to the Financial Times Deutschland [via Deutsche Startups].
There had been no official confirmation from any of the parties involved by the time we put this post up.
Immobilienscout24, did about €53M in turnover last year with a profit (before taxes) of €21M, says the business paper. It was founded in 1998 and is part of Swiss-based Scout24, a holding company comprised of several consumer oriented web sites, which Telekom acquired in an earlier deal.
Read Telekom übernimmt Immobilienscout 24
Posted on September 14, 2007 05:36 PM | Posted to News And Updates | Online services | Permalink
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