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Provider: Reuters Investment Profile
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Provider: Auerbach Grayson & Co., Inc.
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Ekspress Grupp AS to terminate its activity in Ukraine


Friday, 21 Feb 2014 09:32am EST 

Ekspress Grupp AS:Announces that it has decided to terminate Delfi’s activity in Ukraine from March 1.Says that during a six year-period, Ekspress Grupp AS has invested approx. 2 million euro in the development of Delfi Ukraine but this has not brought the expected success in online portals market.Says the Group does not see a positive outlook for the future development of Delfi Ukraine, which would justify continuing the business and therefore has decided to stop its activity in Ukraine.Says that currently, negotiations with the management of the company are being held, as the management has expressed its willingness to continue the activities of the portal and use Delfi’s trademark.Says that the termination of the activity in Ukraine will involve compensation to employees and premature termination of the contracts in total sum of approx. 30,000 euro. 

Company Quote

1.07
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26 Nov 2014