EMEA Internet: Newsflow you might have missed...

研报英文原文证据摘录

EMEA Internet: Newsflow you might have missed...

Barclays | EMEA Internet

Marketplaces

Companies: Allegro, InPost, Trustpilot

•• Allegro - Permira offers ~131m shares ($1.2bn stake) (Bloomberg, 15/06/2026)Allegro

shareholder Permira is offering about 131m shares. Permira now holds 12% of shares according

to Bloomberg.

Barclays' view. Allegro has historically dealt with private equity overhang, so this block is

helpful in effectively clearing the overhang. Otherwise, the business continues to execute well in

Poland and the new CEO's strategy is becoming evident.

•• Allegro / InPost - Letter of Intent signed between Allegro and InPost (Press Release,

18/06/2026) Allegro and InPost entered into a non‑binding Letter of Intent to establish a new

framework agreement relating to out‑of‑home delivery services. The anticipated scope includes

reduced delivery prices, a revised price indexation formula, and multi‑year volume, capacity

and service level arrangements, with the agreement expected to extend to 31 Dec'31, while

arbitration proceedings are suspended.

Barclays' view. Good outcome for Allegro, broadly consistent with our model which assumes

opex / unit reduction for Allegro in the InPost vols from 2028. But helpful for Allegro margins

going forwards.

•• Trustpilot - Recap from Trustpilot's latest insider session (Barclays Research,

17/06/2026) Trustpilot presented findings from its report with Seer analysing >800k prompts

across 8 verticals (~2k businesses), showing that citation rates increased from 54% for minimal

engagement to 75% for active/optimal profiles. 59% of ChatGPT answers cited TrustScore or star

ratings and 63% referenced customer service quality, while optimised businesses were 10x more

likely to be co-mentioned on LLMs.

Barclays' view.