Rocket Internet trims losses, increases debt buyback

By Emma Thomasson BERLIN (Reuters) – German e-commerce investor Rocket Internet reported progress on Thursday in cutting losses at its main start-ups with three set to generate profits by the end of 2017, while its shares were lifted by a plan to buy back convertible bonds. Rocket Internet shares, which have been hit by concerns about mounting losses and cuts to the valuation of some of the company's leading start-ups, were up 10.4 percent by 0920 GMT, but were still down a quarter on the year. Finance chief Peter Kimpel said Rocket was still working towards a goal of a public listing for one of its 10 main start-ups in food delivery, fashion and home furnishings in the coming months, but said timing would depend on market conditions.

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