CoShopper in talks to buy Letsbuyit.com
PrintWho said the Swiss were boring?
Posted in Business, 16th January 2001 14:49 GMT
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Swiss outfit CoShopper.com today said it was keen to get its mitts on troubled rival Letsbuyit.com.
The company said it had started talks with debt-ridden Letsbuyit, which saw its management leave en mass earlier this month.
Marc Schlett, MD for CoShopper's German sector, outlined the advantages of buying the e-tailer: "Letsbuyit has a complete stock, qualified employees, good customer basis and above all, a high brand awareness," he told AFX, a financial newswire. It also, presumably, comes at a bargain-basement price.
CoShopper, which operates in around a dozen countries including the UK, Chile and Australia, is not the only prospective suitor courting Dutch-registered Letsbuyit.
This week Dealpartners.com, an unlisted French e-tailer, also said it was in talks to buy the company. Newly appointed Letsbuyit execs must be just about talked-out - they are also still discussing with administrators how best to salvage the business, which has not traded since before Christmas. ®
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