QXL Ricardo 'unable to back takeover bid'

The sale of online auctioneer QXL Ricardo looked uncertain tonight after it said a recent approach undervalued the company.

QXL Ricardo 'unable to back takeover bid'
Thu, 13 Jan, 2005 - 18:59

The sale of online auctioneer QXL Ricardo looked uncertain tonight after it said a recent approach undervalued the company.

The auctioneer – once tipped as Europe’s answer to eBay – said it could not recommend a 800p-a-share proposal from Florissant, a consortium involving two London-based businessmen.

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