Schibsted to acquire Oikotie from Sanoma for $211m.

Schibsted, a multinational media and internet group, agreed to acquire Oikotie, an online classifieds business from Sanoma, a Nordic media group for $211m. "Finland has been home to Schibsted for over a decade. With this acquisition we have a unique opportunity to widen our scope here and show our long-term commitment to the Finnish market. Schibsted already owns Tori, and adding Oikotie to our portfolio will secure us two highly complementary online marketplaces with strong brands and skilled employees in Finland. This gives us a solid platform and enables us to create better digital services for customers in Finland. We look forward to continuing to do business with Sanoma in the future," Kristin Skogen Lund, Schibsted CEO.