Romania's eMag sells stakes in two online stores

Dante International, which owns Romania’s largest online retailer eMag, has sold its stakes in the garagemall.ro and electrofun.ro online stores to the company Electronic World, which also operates the badabum.ro retailer, reports local Profit.ro. Romania’s Competition Council imposed this transaction at the end of 2016. The council authorized the takeover of PC Garage by Dante International only if the eMag owner sold its stakes in four online stores. These included www.pcfun.ro, www.shopit.ro, www.garagemall.ro and www.electrofun.ro. Electronic World will own garagemall.ro and electrofun.ro starting next month. Dante International is owned by South-African fund Naspers and Romanian investor Iulian Stanciu. Largest Romanian online retailer’s IT center ups profit in 2016 editor@romania-insider.com