INTERNET INDUSTRY – AUSTRALIA

Carsales.com looks at iCar Asia takeover

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Original article by Gretchen Friemann
The Australian Financial Review – Page: 26 : 11-Sep-14

Australian-listed Carsales.com currently holds a 22.9 per cent stake in iCar Asia. Rev Asia Berhad’s decision to offload its 27.2 per cent holding in iCar has prompted speculation that Carsales.com could launch a bid for control of the business. Carsales.com is keen to expand its international presence due to its limited growth opportunities in Australia, where it is the leading player in the automotive classified advertising sector

CORPORATES
CARSALES.COM LIMITED – ASX CRZ, ICAR ASIA LIMITED – ASX ICQ, REV ASIA BERHAD, CATCHA MEDIA BERHAD, CATCHA GROUP, IPROPERTY GROUP LIMITED – ASX IPP, REA GROUP LIMITED – ASX REA, SEEK LIMITED – ASX SEK, JOBSTREET CORPORATION BERHAD, ZHAOPIN LIMITED

Carsales.com looks at iCar Asia takeover

roymorgansocial Leave a comment

Original article by Gretchen Friemann
The Australian Financial Review – Page: 26 : 11-Sep-14

Australian-listed Carsales.com currently holds a 22.9 per cent stake in iCar Asia. Rev Asia Berhad’s decision to offload its 27.2 per cent holding in iCar has prompted speculation that Carsales.com could launch a bid for control of the business. Carsales.com is keen to expand its international presence due to its limited growth opportunities in Australia, where it is the leading player in the automotive classified advertising sector

CORPORATES
CARSALES.COM LIMITED – ASX CRZ, ICAR ASIA LIMITED – ASX ICQ, REV ASIA BERHAD, CATCHA MEDIA BERHAD, CATCHA GROUP, IPROPERTY GROUP LIMITED – ASX IPP, REA GROUP LIMITED – ASX REA, SEEK LIMITED – ASX SEK, JOBSTREET CORPORATION BERHAD, ZHAOPIN LIMITED

ACCC orange light on Wotif takeover

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Original article by Jamie Freed
The Australian Financial Review – Page: 15 : 5-Sep-14

The Australian Competition & Consumer Commission (ACCC) had been widely tipped to approve Expedia’s acquisition of Wotif.com. However, the competition regulator has expressed concern that the $A703m deal may lead to an increase in commission rates in the accommodation sector. The ACCC has noted that Wotif.com’s low commission rates may have influenced rivals such as Expedia to offer lower rates in Australia than in other markets

CORPORATES
WOTIF.COM HOLDINGS LIMITED – ASX WTF, EXPEDIA INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BOOKING.COM BV, BELL POTTER SECURITIES LIMITED, BELL FINANCIAL GROUP LIMITED – ASX BFG, CLIFFORD CHANCE, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, HELLOWORLD LIMITED – ASX HLO, STA TRAVEL PTY LTD, PRICELINE.COM, EUROMONITOR, JETSET TRAVELWORLD LIMITED, STELLA TRAVEL SERVICES LIMITED, DRANSFIELD HOTELS AND RESORTS PTY LTD, ACCOMMODATION ASSOCIATION OF AUSTRALIA PTY LTD

Perked-up SEEK aims to complete JobStreet bid in weeks

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Original article by Madeleine Heffernan
The Australian Financial Review – Page: 19 : 21-Aug-14

Australian-listed SEEK has posted a 2013-14 underlying net profit of $A179.7m. The online job advertisement website operator had revenue of $A756.4m for the financial year, while shareholders will receive a dividend of $A0.16 per share for the second half. Meanwhile, the group has advised that it expects to pay $A636m for JobStreet, with the deal likely to be finalised in September 2014

CORPORATES
SEEK LIMITED – ASX SEK,JOBSTREET CORPORATION BERHAD,SINGAPORE. COMPETITION COMMISSION,CITIGROUP PTY LTD,LINKEDIN LIMITED,MORGANS FINANCIAL LIMITED,CARSALES.COM LIMITED – ASX CRZ,REA GROUP LIMITED – ASX REA

Expedia’s offer brings up many Wotifs for sector

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Original article by Adir Shiffman
The Australian Financial Review – Page: 25 : 15-Jul-14

The acquisition of Australian-listed online travel bookings provider Wotif.com by Expedia is not a positive development for Australia. The deal is likely to have a negative impact on competition in the hotel bookings sector. There will be fewer jobs in the industry and a loss of expertise and talent. It is surprising that Wotif capitulated so quickly and accepted the takeover offer. Several years ago, Wotif was considered to be in the same category as SEEK and REA Group

CORPORATES
WOTIF.COM HOLDINGS LIMITED – ASX WTF, EXPEDIA INCORPORATED, SEEK LIMITED – ASX SEK, REA GROUP LIMITED – ASX REA, BOOKING.COM BV, AGODA COMPANY PTE LTD, ORBITZ INCORPORATED, ASX LIMITED – ASX ASX, TRAVEL.COM.AU LIMITED, HOTELS.COM LP, TRIPADVISOR LLC, HOTELCLUB, DISRUPTIVE INVESTMENT GROUP LIMITED – ASX DVI, CATAPULT SPORTS PTY LTD

Expedia launches $703m takeover bid for Wotif.com

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Original article by Perry Williams, Madeleine Heffernan
The Australian Financial Review – Page: 15/20 : 8-Jul-14

US-based online travel bookings group Expedia has launched a takeover bid for Wotif.com. Investors have been offered $A3.30 a share in a bid worth $A703 million in total. Wotif co-founder Graeme Wood as well as CEO and MD Scott Blume have recommended shareholders accept the offer. Blume said competition in the sector was so intense that it was "eat or be eaten" for Wotif

CORPORATES
WOTIF.COM HOLDINGS LIMITED – ASX WTF, EXPEDIA INCORPORATED, BOOKING.COM BV, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FAIRFAX MEDIA LIMITED – ASX FXJ, PARADICE INVESTMENT MANAGEMENT PTY LTD, SUMITOMO MITSUI FINANCIAL GROUP INCORPORATED, WILSON HTM LIMITED, HYPERION ASSET MANAGEMENT LIMITED, UQ HOLDINGS, GUARDIAN MEDIA GROUP PLC, CCZ EQUITIES PTY LTD

Boycott threat in advertising war

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Original article by Samantha Hutchinson
The Australian Financial Review – Page: 39 : 8-Jul-14

Real estate agents may decide to boycott certain services provided by Australian-listed online classifieds group REA if no agreement is reached on charges. Media buying group Real Estate Digital Marketing Services (REDMS) stated on 7 July 2014 that it sought a meeting with REA, but the latter refused to discuss the matter of fees charged by its realestate.com.au portal. REDMS represents more than 400 Victoria-based agents

CORPORATES
REA GROUP LIMITED – ASX REA, NEWS CORPORATION – ASX NWS, REAL ESTATE DIGITAL MARKETING SERVICES PTY LTD, VIZEUM, FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN PROPERTY GROUP, METRO MEDIA PUBLISHING PTY LTD, BIGGIN AND SCOTT PTY LTD

Online star back from the brink

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Original article by Damon Kitney
The Australian – Page: 19/22 : 27-Jun-14

Australian entrepreneur Patrick Grove does not like his wealth to be examined by the media. In 2013, he appeared on the "Young Rich List" of "BRW" with a wealth of $A95 million. Grove says he is motivated by the desire to build new businesses rather than to make money. His Catcha Group now controls online assets worth more than $US300 million ($A318.8 milion), including stakes in three Australian-listed companies – iCar, iProperty and iBuy

CORPORATES
CATCHA GROUP, CATCHA MEDIA BERHAD, ICAR ASIA LIMITED – ASX ICQ, IPROPERTY GROUP LIMITED – ASX IPP, IBUY GROUP LIMITED – ASX IBY, THORNEY INVESTMENT GROUP AUSTRALIA PTY LTD, FRONTIER DIGITAL VENTURES, NASDAQ, ANDERSEN, ASX LIMITED – ASX ASX