Connect with us
Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


UK competition regulator concerned over $9.2 billion eBay-Adevinta deal

UK competition regulator concerned over $9.2 billion eBay-Adevinta deal 1

OSLO (Reuters) – The British competition authority (CMA) has expressed concerns about the planned acquisition by Norway’s Adevinta of eBay’s classified ads business, Adevinta said on Tuesday.

The deal, worth $9.2 billion and announced in July, would create the world’s largest classifieds group if it were to go ahead.

Britain, where Adevinta and Ebay compete against other players such as Gumtree, accounted for less than 10% of the consolidated revenues of Ebay’s classified business, and 1% of Adevinta’s consolidated revenues, Adevinta said.

Adevinta and eBay will together propose legally binding solutions to resolve the regulator’s concerns before the deadline of Feb. 23, Adevinta said.

The CMA would then have five working days to consider whether to accept their proposals, or to refer the deal to an in-depth investigation, the firm said.

Adevinta said it would provide a further update in early March following the CMA’s decision.

(Reporting by Gwladys Fouche, editing by Nora Buli)

Global Banking and Finance Review Awards Nominations 2022
2022 Awards now open. Click Here to Nominate


Newsletters with Secrets & Analysis. Subscribe Now