increases ownership in Brazil´s biggest online classifieds site
Summary
We now have a cluster of very interesting market leading online classifieds sites not only in Brazil and Chile, but also in Mexico, Colombia and the Dominican Republic. In total, our footprint covers a LatAm population of 400 million, Gianpaolo Santorsola, EVP Emerging Markets says.OLX Brazil possesses an undisputed leadership position in generalist classifieds. Revenues of OLX Brazil reached BRL 99 million in 2016, which represented a growth of 120 percent compared to 2015. During 2016, OLX Brazil successfully introduced monetization of the professional content in both cars and real estate. The development in our operations has been good, and together we have created great value for our users, our customers and for our shareholders, CEO Rolv Erik Ryssdal says.As a result of the difference in valuation between the assets in Asia and LatAm, Schibsted will make a cash payment of USD 400 million to Telenor.