On Friday 28 November the agreement by both parties was signed with the final approval of Spain’s National Commission of Markets and Competition (CNMC, acronym in Spanish). The authorization of the CNMC was conditional on the fulfilment of conditions, which consist of a license agreement of the professional part of Milanuncios motor section for 2 years.
As of now, Schibsted Classified Media Spain (SCM Spain)has full control of the Milanuncios operation, with the limitations set forth in the license agreement. Furthermore, SCM has incorporated its owners as shareholders of SCM Spain with a minor stake and also has incorporated their team as part of the organization. In fact, the CEO of SCM Spain, Frode Nordseth, and Sergio Balcells, General Manager of Milanuncios, have spent time in Madrid working together with the Milanuncios team.
“Incorporating Milanuncios.com to our ecosystem of innovative portals allows us to follow our growth strategy and to develop the category in the Spanish market. Learning from each other and sharing best practices, together with our worldwide expertise accumulated during the past 20 years of digital transformation, will enable us to continue creating value and improving our service for users and clients”, says Frode Nordseth.
Milanuncios is operating as an independent portal and brand into the SCM Spain portfolio, benefiting from synergies and strong innovation provided by the Group. Segundamano, SCM Spain actual generalist online classifieds portal, is operating independently as well, and both sites continue with their business models, in which individual users can publish classified advertisements for free.
Facts about SCM Spain
Schibsted is now the 6th most visited group on Internet in Spain. And SCM Spain is the most diversified classified media group in the Spanish market, thanks to its different portals. Schibsted Classified Media Spain currently has the following portals in Spain:
- Milanuncios with more than 70 million visits per month.
- Segundamano.es, dedicated to the sale of second-hand, with almost 40 million visits per month.
- Fotocasa.es. Providing the largest real estate market, both in resale properties, new developments and renting. 15 million visits per month.
- Infojobs. Portal dedicated to leading job opportunities in Spain with more than 30 million visits per month.
- Coches.net. Site dedicated to the sale of automobiles. 8 million visits per month.