PayU put up for sale

Poland's leading online payment service provider PayU has been put up for sale. The principal activity of the company is handling transactions on the Allegro auction platform as both companies are owned by South African multinational corporation Naspers. According to an anonymous former PayU manager cited by daily Dziennik Gazeta Prawna,  the firm came up against a brick wall and is unable to continue developing while being owned by the same company as Allegro. "Allegro ceases to be solely an online auction service and becomes an e-commerce platform. Auctions are taken over by bulletin board OLX, also owned by Allegro. In this situation, large and medium-sized shops do not want to establish cooperation with PayU, seeing the company associated with Allegro as their competition." Foreign and local investment funds are interested in acquiring PayU, the daily informed. The press office of the company declined to comment.