Springer Bids for Scout24 in New Digital Push: Sources

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By: Harro Ten Wolde and Arno Schuetze | Reuters

(Reuters) – Axel Springer has made an offer for Deutsche Telekom’s online classified advertising business Scout24, sources said, in another push into digital media that helped the German publisher beat earnings forecasts.

Springer, which publishes Germany’s top-selling daily “Bild”, has teamed up with private equity firm General Atlantic to bid for Scout24, two people familiar with the transaction said. Scout24, valued at about $2 billion, includes Internet portals such as European car trading site AutoScout24 and real estate classifieds site ImmoScout.

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