Bucharest, 24 October 2019.
- The Hungarian Competition Authority: online and offline retail are a single market
- Prosus (Naspers): eMAG is a regional champion that brings value to the Romanian economy
eMAG continues its international expansion following the approval of its merger with Extreme Digital by the Hugarian Competition Authority’s (GVH) that concluded that on the electro- IT market, the online and offlline stores represent a single market and the merger would not reduce competition.
In its decision, GVH argued that the transparency of the prices, sensitivity to pricing of the online customers along with the competition on the retail market were strong arguments that contributed to its decision to approve the merger.
“eMAG continues to be a regional champion, bringing value to the Romanian economy and expanding its offering to new markets as it grows,” said Roger Rabalais, COO B2C at Prosus Group (Naspers).
Added Iulian Stanciu, CEO eMAG: "The approval of the merger of eMAG Hungary with Extreme Digital marks an important step in our regional expansion. We are glad that a Romanian company takes the technology developed at home to all the countries where it is present. By continuing international development, we will produce further value in Romania, considering the large number of Romanian employees, suppliers and sellers.”
As a result of the merger, eMAG becomes major shareholder of the new entity with a 52% stake. The new entity begins its journey with combined revenues estimated at 250 million EUR, employees and a target of one billion euro in six years.
Established in 2001, eMAG is a pioneer of the online retail in Romania that experts Romanian know-how and technology in Bulgaria, Hungary and Poland. For 18 years, eMAG has been investing constantly in technology-based services developed in Romania aimed at helping clients save time and money. With a variety of offered products continuously expanding, eMAG is the place where anybody can order anything from anywhere. Customers benefit from added-value services such as 30 day-return, opening the parcel at delivery , call center 24/7, Service Pick Up and Return, mobile app and shopping card eMAG from Raiffeisen Bank.
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