Schibsted agrees on selling price for Hemnet to General Atlantic and Vostok Ventures.

The deal is a result of Schibsted being refused by the Swedish competition authority to validate Hemnet's acquisition from 2015, as it already owns Blocket, the largest local online marketplace, and it would result as such in a dominant position in the Swedish market.

At the end of 2015, Schibsted acquired 15% of Hemnet, with the intention of buying 65% more in a SEk 1.5bn deal valuation, subject to the Swedish Competition Authority approval.

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