It is positive to see that there is sufficient interest in the company... We expect a bid in about two months.

In our opinion, the deal would make sense from a strategic point of view. Premium looks okay, but can increase.

The chances of a successful takeover have decreased a lot today.

The takeover would make strategic sense.

There's not much negative to say about these results.

The company has expanded in the right countries and is now reaping the benefits of booming ad markets such as Spain, Russia and Eastern Europe. As the German market seems to come back on track, growth could even accelerate.