Deals
Schibsted CEO Seeks Classified-Ad Companies to Increase Growth
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Schibsted ASA, Norway’s biggest media company, is considering acquisitions to accelerate growth of its online classified-advertising businesses as the European economic crisis will “certainly” affect the media business.
“We are looking at acquisition targets in the classified sector in the markets where we are already in,” Chief Executive Officer Rolv Erik Ryssdal said today in an interview at a conference organized by Morgan Stanley in Barcelona. “We don’t have a specific budget. It’s important to be pragmatic and to have the financial flexibility to participate in the deals that we find interesting, and I believe that we have that.”