Is eBay behind a QXL takeover bid?

by Sue Bailey



Speculation about auction site QXL and a possible eBay takeover have been going round for months now, with little to substantiate them. However, QXL have confirmed today that they have received a takeover approach:

“The company notes the recent movement in the company’s share price and confirms that it has received a preliminary approach which may or may not lead to an offer being made for the company.”

Though any details have yet to be revealed, as Adrian Kearsey, an analyst at Evolution Securities, put it: “eBay is the obvious choice”. Shares in QXL have risen 10.6% following the news.

Share this post:

  • Add to favorites
  • del.icio.us
  • Digg
  • Facebook
  • Google Bookmarks
  • LinkedIn
  • Netvibes
  • NewsVine
  • Posterous
  • Reddit
  • StumbleUpon
  • Twitter
  • Tumblr
  • email

Tags for this post:
Author: Sue Bailey
Posted at: Wednesday, November 7th, 2007 at 3:52 pm
Filed Under Uncategorized
 

Local Bargain Finder

One Response on "Is eBay behind a QXL takeover bid?"

  1. 1
    QXL bought for £750m - but not by eBay : TameBay says:
    December 16, 2007 at 7:09 pm

    [...] bought by a South African media corporation for more than £750m, reports the Sunday Times. Rumours had been circulating that eBay were to buy the online auction group, which derives most of its revenues from eastern [...]