European Retail Correspondent, Zurich
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Sep 23, 2014
Sep 23, 2014

Rocket Internet prices shares to value firm around $8 billion

BERLIN (Reuters) – Germany’s Rocket Internet, a venture capital group that has launched dozens of online start-ups, priced its initial public stock offering in a range of 35.50 to 42.50 euros per share, valuing the company at some 6.2 billion euros ($8 billion).

The Berlin-based company said in a statement on Tuesday it expected gross proceeds of about 1.477 billion euros from the offering. This assumes it places the maximum number of shares at the mid-point of the price range, with a free float after lock-ups of 24 percent.

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Sep 18, 2014
Sep 18, 2014

Virtual meets real in Media-Saturn’s new store

INGOLSTADT, Germany, Sept 18 (Reuters) – Europe’s top
electronics retailer Media-Saturn unveiled a new store with
access to more products via a giant video wall and a drive-in
collection point for online orders, aiming to better link online
and offline shopping and fight back against internet
specialists.

Media-Saturn, whose sprawling stores selling everything from
washing machines to laptops generate about a third of the
revenues of retail group Metro, has seen online
competition from the likes of Amazon steadily erode its
business in recent years.