Polish publisher Agora has written down 27.2 million zlotys (US$8 million) for its purchase of Trader.com, according to the company, Reuters reported Wednesday.

This charge is related to its 120 million zlotys purchase in 2008, and will influence the company's fourth-quarter results.

Analysts criticised the publisher for paying such a high price, eight times 2007 sales, to purchase the Web classified ad company, Reuters reported.

The purchase, as well as pessimistic forecasts for newspaper advertising, dragged Agora shares down 71 percent in 2008, and ended up cutting the job of Chief Executive Marek Sowa in November, according to Reuters.