EBay is looking to sell its South Korean unit, which includes Gmarket, one of the largest online marketplaces in the country, in a deal that could fetch nearly US$5 billion, a Seoul-based newspaper reported on Tuesday, March 3.
The Korea Economic Daily, citing an unnamed industry official, reported that eBay has decided to sell 100% of its stake in eBay Korea, reported Reuters.
Possible buyers include other South Korean retail giants such as Lotte Shopping, Shinsegae, and Hyundai Department Store Group, as well as private equity funds like MBK, the country’s largest private equity firm, the newspaper reported.
EBay bought Gmarket in 2009 for up to US$1.2 billion, and combined it with its South Korean unit, Internet Auction.
At the time, the combined companies accounted for 87% of the country’s online consumer-to-consumer market and more than 30% of the Web shopping mall market, the Korean antitrust agency stated.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI