Dutch technology investment group Prosus has expressed early-stage interest in a potential bid for Mobile.de, Germany’s largest online auto marketplace, as the company’s owners consider selling shares, according to sources familiar with the matter.

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Mobile.de IPO Plans and Ownership

Private equity firms Permira and Blackstone, owners of Mobile.de through Norwegian parent company Adevinta, are leaning toward an initial public offering (IPO) for the platform. The IPO could value Mobile.de at up to €10 billion ($11.66 billion), potentially debuting on the stock market next year.

Sources indicate that Prosus could make a bid through its classifieds unit OLX, though no formal sale process has started. Prosus may ultimately decide against pursuing a purchase.

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Other Interested Parties

In addition to Prosus, Mobile.de has attracted attention from multiple private equity firms, including:

• EQT
• Cinven
• Apax

The owners have been exploring a breakup strategy for Adevinta, including the sale of:

• Its Spanish classifieds business to EQT
• Austrian unit Willhaben to investor Sprints and Styria Media Group

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Prosus’ Expansion in European Auto Market

Prosus, the investment arm of South African group Naspers, has been actively expanding in Europe’s used-car marketplace sector. Earlier this month, the company acquired French motors classified platform La Centrale for €1.1 billion, signaling its ambition to grow in online automotive marketplaces.

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Deal Uncertainty

All sources speaking on the matter stressed that there is no certainty a deal will materialize. Prosus, EQT, Cinven, Apax, JPMorgan, and Goldman Sachs declined to comment, and Permira, Blackstone, and Adevinta also did not respond to inquiries.