Volatility in the stock markets has prompted Bertelsmann Arvato to postpone the initial public offerings of several of its internet divisions.
Arvato – the media services division of Bertelsmann – had scheduled IPOs this year for online booking site Trust and knowledge management business Empolis.
“As soon as the situation improves here, we will reassess the situation,” declared Arvato chairman Gunter Thielen.
Despite the high start-up costs of its internet businesses, Arvato remains the most profitable Bertelsmann subsidiary, with growth forecast at 6%–7% for the next financial year.
News source: Handelsblatt (Germany)