Online advertising giant Carsales.com may launch a takeover play for its smaller rival iCar, after a company associated with the Kuala Lumpur-based entrepreneur, Patrick Grove, announced its intention to shed a 27 per cent stake in the business.
Online advertising giant Carsales.com may launch a takeover play for its smaller rival iCar , after a company associated with the Kuala Lumpur-based entrepreneur, Patrick Grove , announced its intention to shed a 27 per cent stake in the business.
Carsales controls 22.9 per cent of iCar Asia, which has long been viewed as a logical buyout target for the local media heavyweight as dwindling domestic growth forces it to hunt for acquisitions offshore.
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Gretchen Friemann writes on Business specialising in Banking & Finance, Mining, Real Estate. Based in our Sydney newsroom, Gretchen is a Street Talk editor.
