Ad hoc announcement pursuant to Art. 53 LR
COMCO approves takeover of Ricardo Group by Tamedia
Tamedia believes that Ricardo's core business, the online market place ricardo.ch, has further growth potential and is planning to further expand it through network effects with the company's own media, such as 20minuten.ch. Christoph Tonini, Tamedia's Chief Executive Officer: «We are pleased that the federal competition commission has approved the takeover of the Ricardo Group without restrictions. This is a step forward to strengthen our e-commerce services, create real competition in the online car selling market and further expand our leading position in the classifieds business.»
The takeover is expected to be completed by the end of the third quarter. In July 2015, Tamedia has already acquired the Norwegian Schibsted Media Group's 50 per cent investment in the previously jointly held subsidiaries Swiss Classified Media AG, car4you Schweiz AG and tutti.ch AG, which operate the general classifieds platform tutti.ch and the car advertising market car4you.ch.