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Online retailer Play.com has announced it is seeking investment for European expansion.
The internet bookseller and UK’s market leader in online DVD sales revealed today (7th April) it has appointed Lazard to explore investment opportunities for an “aggressive European expansion plan.”
The Jersey-based company also revealed it would grow its UK business by expanding into new categories.
A spokeswoman for the company said: “Play.com . . . has engaged Lazard bank to explore a capital raise to finance its UK growth plans of expanding into new categories as well as an aggressive European expansion plan.”
Play’s c.e.o John Perkins, who joined the company from Apple in April 2010, is leading the capital raise.
Analysts predict Play.com is worth in excess of £400m.