QXL: Going, going, gone into partnership with ebookers

Struggling UK auction site QXL Ricardo has signed a pan-European agreement with UK travel site ebookers to jointly promote and market their services.

The deal is QXL's first on a pan-European scale, and will work across the 11 countries where both companies have a presence. The deal will involve links between the firms' websites and joint marketing to a combined audience of four million across the continent.

The deal will not see money change hands, and will start with a promotion of travel content.

QXL has struggled to cope over the last year and has suffered a plummeting share price and widespread criticism of the price paid for German auction site Ricardo.

Yesterday QXL shares climbed by half a penny to close at 6.25p - up from an all-time low in July, but still more than 99 per cent down on its all-time high.

Ebookers shares remained unchanged yesterday at £1.15.