The internet-based trade exchange Covisint says that it plans to conduct its first auction in the next days, writes the UK’s Financial Times (1/10/00).
The move – following successful trials at the end of last week – will see ‘Real’ business conducted with actual items changing hands, although the company did not say which goods would be involved.
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The FT says that the first auctions are likely to be followed by Covisint gradually rolling-out its services and features.
The decision to conduct the first auction by the group – backed by the Ford, GM, DaimlerChrysler and Renault/Nissan – follows the company having received final clearance from Germany`s Bundeskartellamt days earlier, says the newspaper.
Alongside this, the go-ahead was also given to Covisint by the US Federal Trade Commission, allowing for the company to begin trading.
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