Business Services Industry
New Zealand a big gamble for Fairfax.
Australasian Business Intelligence, March, 2006
Byline: John Lehmann
Mar 12, 2006 (The Australian - ABIX via COMTEX) -- John Fairfax Holdings' surprise acquisition of Trade Me has unnerved some analysts and investors. The primary concern for many analysts is the $NZ700m that Australia-based Fairfax paid for the New Zealand (NZ) internet auction and classifieds company.
Trade Me may well have a membership approaching one-third the size of the NZ population, but put in perspective, the
entire NZ market is barely larger than that of Queensland. Another significant concern is that Trade Me constitutes a large acquisition for a new, arguably inexperienced CEO. David Kirk's early March 2006 purchase came less than...
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