11-08-2007, 09:43 AM
Quote:EBay, the American online auction group, may be the mystery bidder behind a possible takeover of its smaller UK rival and dot-com survivor QXL Ricardo, which yesterday confirmed it had received a bid approach.
Shares in QXL Ricardo rose 10.6 per cent to £16.70 after the announcement, giving the online auctioneer a capitalisation of £771 million. That is still less than half its £1.7 billion value at the height of the dot-com boom in 2000, when its shares reached £37.
The FTSE 250-listed business said: âThe company notes the recent movement in the companyâs 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.â ...
full article: http://business.timesonline.co.uk/tol/bu...827362.ece
QXL owns the number one auction sites in Poland, Switzerland, Denmark, Norway,and has a strong presence in several Eastern European countries..