Play.com sold in £25m deal

 
Steve Dinneen
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PLAY.COM has been bought by Japanese online retail giant Rakuten in a deal worth £25m plus debt.

The acquisition of the music and film specialist is part of a an international push to compete with US giants Amazon and eBay.

Play.com, based in Jersey, had a meteoric rise, taking advantage of European VAT rules to pioneer a free postage model that attracted 14m registered users and annual sales of around £500m.