Schibsted’s bid for Hemnet: 1.5 billion – Expressen

The media group Schibsted wants to buy property site Hemnet.

Commandment: 1.5 billion.

– We need to examine what risks the deal means for consumers, says Per Karlsson, chief legal counsel at the Consumer Agency, to SvD.

Schibsted opens that advertising Hemnet becomes more expensive for potential purchase.

Schibsted has made an offer of 1.5 billion Swedish kronor on the site, and contacted the two of the four owners, who accepted the offer. It is Fastighetsbyrån and Swedish Property and together own half of Hemnet.

The other two owners, Estate Agents Association and the Real Estate Agents, owns 25 percent each and were surprised by Schibsted took place when it was announced on Friday in connection with the quarterly report presented .

– I have not been through this type of bid earlier. Is this the way it usually go to? We had no idea that Schibsted negotiated with the other major owners, says the Real Estate Agents Association Chairman Pasha Sabouri to Breakit.

The brokerage community has not decided how to relate to the bid.

– We will go out with more information about how we position ourselves to bid later. Right now we do not want to say either yes or no, says Josefine Uppling, Communications, for Breakit.

Schibsted CEO Rolv Erik Ryssdal says to SvD that he would try to have a good dialogue with all four owners. He also opens up for increased fees for advertising on Hemnet. Finn, a similar Norwegian site, charge significantly higher fees, although the market is small, he says. Find owned by Schibsted.

Hemnet is the dominant housing and Schibsted also owns ad site block that also has homes. Now Competition Authority’s look at what a takeover would mean.

– We need to examine what risks the deal means for consumers, says Per Karlsson, chief legal counsel at the Consumer Agency, in SvD.

The bid of 1 , 5 billion is 47 times higher than Hemnets operating profit, according to SvD. The attempt to increase their shares on the Swedish housing market is part of a European initiative that Schibsted is doing.