Scout24 to review its auto platform following pressure from Elliot Management

Scout24 will update investors on its review on November 26. Elliot is also pushing Scout24 to ramp up its share buyback program.

On Tuesday, Scout24, a German classified listings group stated it would explore options for its autos platform following pressure from activist investor Elliott Management 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.

He went on to add, Scout24 would update investors on the review at a capital markets day on November 26.

Last week, Elliott Management had gone public with a demand that Scout24 sells AutoScout24 and boosts its share buyback program to provide a better return to investors.

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