eBay Issues Update on Proposed Transaction of eBay Classifieds Group
The remedies proposed by eBay and Adevinta are the divestment of each company's primary classifieds operations in the UK: Shpock, Gumtree (UK) and Motors.co.uk.
- The remedies proposed by eBay and Adevinta are the divestment of each company's primary classifieds operations in the UK: Shpock, Gumtree (UK) and Motors.co.uk.
- In 2019, eBay Classifieds Group's UK business accounted for less than 10% of its consolidated revenues and Adevinta's UK business accounted for only 1% of its consolidated revenues.
- eBay and Adevinta remain excited about the proposed combination of Adevinta and eBay Classifieds Group and now target closing the transaction in Q2 2021, subject to final ratification of the remedies execution plan by the CMA and receipt of outstanding regulatory approval in Austria.
- eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects millions of buyers and sellers in 190 markets around the world.