Feeds

QXL buyout of Ricardo gets delayed

There's fresh info on Ricardo's performance

  • alert
  • submit to reddit

Boost IT visibility and business value

Updated QXL's buyout of German auction site Ricardo.de took a new twist today. QXL issued a statement this morning saying it had "received certain information from Ricardo.de in the period following the announcement of the proposed transaction on May 16, 2000.

Ricardo spokesman Matthias Quaritsch told Reuters that "The delay can be a couple of days, a week but also longer then that, but the merger will go ahead."

QXL has said that its board of directors was "evaluating the implications of this information on the proposed transaction". Another announcement on Ricardo, which boasts ex-Compaq chief Ekhard Pfeiffer as its figurehead, is expected later today.
Related Stories
Pfeiffer opens online auction for business
Pfeiffer goes under QXL hammer



AOL and Wal-Mart's UK unit, Asda, have agreed to take a 22.5 per cent stake in British online shopping directory, Shopsmart.com. Wal-Mart will hold 14


per cent with AOL taking the balance. Financial details have not been released, but the deal is said to be part of a four year marketing plan under which Asda will distribute AOL UK disks in its 240 stores.




Cube8 - dotcom incubator - has bought 60 per cent of portal

Antique Street

for £60,000 ahead of the portal's launch in October. The B2B venture - which will offer a free limited service to dealers - will be headed by Jane Brown, an antiques expert and QXL editorial contributor.




Online share distributor EO has announced a CEO in the form of Mark Stacpoole for its new UK subsidiary. Mark spent the last 12 years at bankers Dresdner Kleinwort Benson where he was head of various teams including


telecoms and media, corporate finance, and capital markets. EO said it will launch more European subsidiaries in the next few months.




Online shopping site Urbanfetch.co.uk has laid off 15 per cent of its workforce (18 people) just two months after its launch. The company claimed the redundancies were due to it becoming more efficient. Urbanfetch delivers the usual books, booze and software but says it will do it within an hour.




Internet sales have boosted RyanAir's profits by 26 per cent in the first quarter, from E18 million to E22.7 million. Ticket sales online have already


reached the first year's target of 40 per cent of sales, chief executive Michael O'Leary said. He has now raised his target and hopes that 50 per cent of bookings will be online by the end of the year.®



For more news on dotcom finacials, go to Cash Register.

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.