eBay and Adevinta planning to sell each company's primary classifieds operations in UK - News

02/March/2021

American e-commerce firm, eBay and Norway's Adevinta planned to sell smaller UK units in order to secure regulatory approval for a long-planned $9.2billion tie-up of their global classified ads businesses.

The two companies on Tuesday announced they had proposed to sell each company's primary classifieds operations in Britain; namely Shpock, Gumtree and Motors in order to meet the requirement of Britain's Competition and Markets Authority (CMA).

The CMA had said that, eBay and Adevinta would have to resolve the watchdog's concerns before proceeding with their $9.2 billion deal...reuters.com