Pages Jaunes Group (PJG), the French yellow pages, just bought French real estate listings site Avendrealouer.fr from PriceMinister, one of the biggest French e-commerce sites.PJG wants to take on SeLoger.com, the French leader in real estate listings, which was recently acquired by huge German media conglomerate Axel Springer at a valuation over $800 million dollars in a hostile takeover.
PJG is one of the most interesting internet companies, not just in France, because it’s the only “yellow pages” company we’re aware of to have successfully transitioned to the internet and remained a big, important player. With the real estate market picking up in France it makes sense to go after this large opportunity.
Meanwhile PriceMinister, the most trafficked e-commerce site in France, was recently acquired by Rakuten, the biggest e-commerce company in Japan that wants to become a global e-commerce giant, so it’s logical that it would divest from non-core assets and focus on pure B2B2C e-commerce, which is Rakuten’s specialty.
(Via La Tribune, in French)