Scout24 sets strategic review for autos platform

FILE PHOTO: The headquarters of Scout24, an operator of digital marketplaces for real estate and automobiles, is pictured in Munich, Germany July 5, 2019. REUTERS/Michael Dalder/File Photo - Copyright Michael Dalder(Reuters)

By Reuters

Published on 13/08/2019 - 13:05•Updated 20/04/2024 - 07:35

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FRANKFURT (Reuters) - German classified listings group Scout24 <G24n.DE>, reporting upbeat second-quarter profits, said on Tuesday it would explore options for its autos platform after facing calls from activist investor Elliott to sell the business.

"We have commenced a strategic review of alternatives forAutoScout24 with the objective to enhance long-term shareholder value," said CEO Tobias Hartmann, adding that Scout24 would update investors on the review at a capital markets day on Nov. 26.