The Telegraaf Media Group, owner of the country’s biggest newspaper and social networking site Hyves, is allocating €300m to takeovers in the print and online sectors.

The aim of the war chest is to boost turnover by up to €900m within the next five years, the company said on Tuesday. That represents a 40% increase on today, the Financieele Dagblad reported.
Some €250m of the war chest must come from external sources but it is not yet clear how the cash will be raised, the paper said.
Social networking
Meanwhile, Dutch language website Hyves, which TMG bought last year for €43m, is not performing as well as hoped, sources have told the paper.
Hyves remains one of the most popular websites in the country, but the number of page visits has fallen by 25% over the past six months to 150 million, the paper says.
Group CEO Herman van Campenhout is due to outline his strategy for the company later on Wednesday.