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CoShopper in talks to buy Letsbuyit.com

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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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Letsbuyit.com bosses resign en masse
Letsbuyit shares go down the toilet
Letsbuyit.com teeters over debt abyss
Letsbuyit wants $48m to help it into the black
Wanted: Strategic buyer for Letsbuyit.com

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