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Prosus Eyes Possible Bid for Germany’s Largest Online Auto Marketplace Mobile.de

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Dutch tech investment giant Prosus has shown early-stage interest in acquiring Mobile.de, Germany’s biggest online auto marketplace, according to sources familiar with the matter.

Current owners Permira and Blackstone are leaning toward an initial public offering (IPO) rather than an outright sale, but Prosus — through its classifieds division OLX — could enter the race depending on market conditions. The company’s tentative approach underscores growing competition for digital auto platforms across Europe.

The private equity funds have enlisted JPMorgan and Goldman Sachs to prepare Mobile.de for a potential IPO that could value the company at up to €10 billion ($11.7 billion), sources said. The listing could take place next year, though no formal sale process has yet begun.

Alongside Prosus, private equity groups EQT, Cinven, and Apax have also expressed interest, according to the report. All parties declined to comment.

Mobile.de’s parent company, Adevinta, was purchased by Permira and Blackstone in 2023 for around 141 billion Norwegian crowns. Since then, the new owners have begun breaking up Adevinta’s holdings, including selling its Spanish classifieds business to EQT and its Austrian subsidiary Willhaben to Sprints and Styria Media Group.

Prosus, the investment arm of South Africa’s Naspers, has recently expanded its automotive footprint, buying France’s La Centrale platform for €1.1 billion earlier this month.

The early-stage talks reflect the growing investor appetite for online vehicle marketplaces, which have proven resilient and profitable amid a broader slowdown in tech valuations.

China’s WeRide Aims to Raise $308 Million in Hong Kong Listing Amid Autonomous Driving Boom

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Chinese self-driving technology company WeRide plans to raise about $308 million through a Hong Kong stock market listing, according to a Bloomberg report on Tuesday. The Guangzhou-based firm is expected to price its shares at HK$27.10 each, valuing the offering at HK$2.39 billion.

WeRide, which went public on Nasdaq in October 2024, is selling 88.3 million shares, with a maximum price of HK$35 per share, according to its prospectus filed on October 27. The offering is led by Morgan Stanley and China International Capital Corp (CICC), which were also involved in the company’s U.S. listing.

The move comes as growing investor enthusiasm for next-generation mobility companies fuels renewed interest in autonomous driving technologies. At the same time, many U.S.-listed Chinese firms are pursuing dual or secondary listings in Hong Kong to diversify funding sources and hedge against geopolitical and regulatory risks linked to U.S.-China tensions.

Founded in 2017, WeRide develops autonomous vehicle systems and operates robotaxi services in China and abroad. The company’s Hong Kong debut follows rival Pony AI, which set the final price for its own Hong Kong listing at HK$139 per share this week.

WeRide declined to comment on its final offer price when contacted by Reuters.

PayPay’s U.S. IPO could top $20 billion valuation, sources say

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PayPay, Japan’s leading digital payments platform backed by SoftBank, could be valued at more than 3 trillion yen ($20 billion) in its upcoming U.S. initial public offering (IPO) planned for December, according to people familiar with the matter.

The potential listing would make PayPay one of the largest Japanese tech IPOs in years. SoftBank, which owns PayPay through several entities including SoftBank Corp, its Vision Fund, and LY Corp, has been meeting institutional investors since mid-September to discuss pricing and valuation.

According to sources, investors view 2 trillion yen as a conservative baseline but expect higher figures due to PayPay’s dominance in Japan’s QR code payment market and its expanding suite of financial services, including banking, credit cards, and cryptocurrency.

PayPay recently launched its international payments service, beginning with South Korea, as it seeks to strengthen its growth story beyond Japan. However, some investors remain cautious about the company’s overseas potential, citing its limited infrastructure outside Asia.

Japan’s cashless payments ratio exceeded 40% last year — still below South Korea and China’s 80%+ levels — leaving room for domestic growth. Meanwhile, SoftBank’s financial segment, which includes PayPay, reported a doubling of operating profit to 18.1 billion yen in the April–June quarter.

PayPay is also moving into crypto services after acquiring a 40% stake in Binance Japan, reinforcing its position as a comprehensive fintech player.