Zalando is set to snap up online fashion rival About You

Zalando Berlin

Fashion giant Zalando is set to snap up German online fashion rival About You in a €1.1bn (£906m) deal in an attempt to “better serve the needs of customers”.

Zalando announced today that it has entered into a “definitive business combination agreement” with the platform and intends to submit a voluntary public tender offer to acquire 100% of its share capital.

 

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