T-Online buys Scout24

E-commerce Internet provider T-Online is taking over the Scout24 group from Zug-based Beisheim Holding, for which the Deutsche Telekom subsidiary is paying around 180 million euros in cash. The purchase agreement is subject to antitrust approval and the carve-out of the companies Morgen & Morgen and GesundheitScout24, which are not strategically relevant for T-Online, from Scout24 AG. The latter expects sales of around EUR 70 million and a positive EBITDA in the single-digit millions in 2004.