Media: Avito is in talks to buy Cian
Avito company is preparing to acquire real estate marketplace "Qian". Such a deal is under consideration by the Federal Antimonopoly Service (FAS) of Russia, Forbes reports.
According to the publication's sources, the application for the purchase of "Cian" was received from Avito to the agency in the summer of 2021. Avito is considering the full acquisition of "Cyan" to strengthen the direction of real estate, but may buy part of the business in million-strong cities.
According to RBC research as of April 2021, Avito is the largest player in the online real estate market in the apartments segment with a 40% share in Russia (together with the Domofond real estate service). Cyan comes second with a 22.2% share. The acquisition of Cian will allow Avito to cover 62.2% of the market.
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Author: Karina Kamalova