Business News

Schibsted ASA (SCH) – Update on the Milanuncios.com acquisition process

Tuesday 07. October 2014 - Reference is made to the announcement of 10 June 2014 regarding expected closing of the acquisition of Milanuncios.com, a Spanish online classifieds site. The acquisition was announced 13 February 2014, and it was filed with the Spanish Competition Authority (CNMC) on 24 April 2014.

In June 2014, CNMC informed Schibsted that it would take the case to “phase 2”, which implied additional time to reach a conclusion. At that point, it was Schibsted’s expectation that the transaction would be closed by the end of Q3 2014.
The process is not yet concluded, and the completion of the acquisition will be somewhat delayed compared to the previous expectation. Talks with CNMC are constructive, and continue with good progress. Schibsted expects that the acquisition will be cleared by the authority.