eBay: UK objects to Adevinta acquisition

(CercleFinance.com) - eBay said on Tuesday that the British competition watchdog has expressed concerns that its planned acquisition of Norwegian online classifieds marketplace Adevinta could reduce competition in the UK.


The pioneering e-commerce group said that it plans to propose legally binding solutions to resolve the CMA's concerns before the deadline of 23 February, which could end up with a so-called "in-depth" investigation.

Wanting to avoid further investigation, eBay said that it will work with the CMA to find a suitable resolution.

In a statement, eBay pointed that its classified business in the UK accounted for less than 10% of its consolidated revenues, with Adevinta's UK business representing just 1% of the group's revenues.

Adevinta operates local digital online classifieds marketplaces in 15 countries.

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