Today in Germany: Paydirekt, German Startups Group, Sparhandy

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German banks launch PayPal competitor Paydirekt

Way too late – or better late then never? German banks worked on a payment product to compete with PayPal. While Gründerszene asked Germany-based startups if they will integrate the new payment tool, mobilbranche interviewed leading experts in the industry about Paydirekt’s chances to win the battle.
[Gründerszene] (German), [mobilbranche] (German)

German Startups Group postponed its IPO

Berlin-based German Startups Group wanted to go public, moved its appointment, and now postponed it. As a reason, the company stated the market environment was fragile. “In light of this environment, the management sees no chance of listing the company on the stock exchange at a fair price and generating the desired oversubscription,” German Startups Group stated. Previously it had planned to raise up to €72 million by offering 22.1 million shares at a price range between €2.70 and €3.60.
[Reuters], [Gründerszene] (German)

Sparhandy and ElectronicPartner expand partnership

After holding 30 percent already, German customer and household electronics retail co-operative ElectronicPartner now wants to acquire 50,1 percent of Sparhandy to bund sales, distribution and mobile hardware logistics.
The approval of the antitrust authorities is currently pending. If it gets approved, the deal will be closed in August.