Netherlands-based auctions site spott.nl is to end operations in the coming weeks. The decision has been taken by the three shareholders that launched the portal in April 2000. The joint venture was established by VNU, which holds 40%. The remaining 60% was in the hands of PCM Utigevers, a Dutch publishing group and Holland Media Group, RTL’s Dutch unit.
The reason for the closure was put down to insufficient opportunity on the market, which has become significantly less strategic for investors. At the time of the launch the partners invested just over €15 million.
