Feeds

eBay fingered for QXL bid

Bid received for online auctioneer

High performance access to file storage

Online auctioneer QXL confirmed yesterday that it has received an offer for its business, but refused to name the suitor.

The statement said: "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."

Several analysts named eBay as the obvious choice. QXL's best performing markets - like Poland and eastern Europe - are areas where eBay is not strongest. The two businesses are broadly similar and would make an obvious match.

QXL was launched by ex-journalist Tim Jackson in 1997 but struggled in the aftermath of the dot-com crash in 2001. It subsequently refocused its business on eastern Europe, Russia, Denmark, and Norway, and has seen its share price recover. Since November 2006 shares have more than tripled, although today they have fallen back slightly on yesterday's gains.

Yesterday also saw eBay post its results for the third quarter ended 30 September 2007. Revenues were $1.89bn, year-on-year growth of 30 per cent. eBay made a loss for the three months of $935.6m - mostly blamed on writing off $1.39bn in costs relating to Skype.

More on results here (pdf). ®

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.