Zalando to acquire About You, stock drops
Investing.com -- German online retailer Zalando announced on Wednesday that it has agreed to acquire its rival, fashion group About You, for €1.1 billion . The move is part of Zalando’s strategy to establish a pan-European e-commerce platform.
“This is in line with ZAL's strategy for bolt-on M&A but it probably means cash returns are less likely now, in our view,” they added. "The planned two-brand strategy would significantly increase the group's presence in the pan-European markets," said retail group Otto.
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