eBay to buy 400 million U.S. dollars to spend C2C website in Korea share the envy of almost 87%
U.S. well-known Internet auction service eBay will provide 413 million U.S. dollars to buy retailers in South Korea's Gmarket stake holding. Industry sources, the adoption of the transaction, eBay will further consolidate its network of retail markets in South Korea's dominant position. EBay as early as on August 2007 said that he hopes to acquire Gmarket's largest shareholder and its chairman Li Heng Interpark held all the shares of Gmarket. eDaily South Korean Internet news site quoted sources today said the statement, eBay has agreed to the price of 24 U.S. dollars per share Interpark and its chairman from Gmarket acquired 34.2% stake in Gmarket last Thursday with the closing price of 18.12 U.S. dollars compared to a premium of 32.5 %, and the total transactions amounted to 413 million U.S. dollars.
For the above-mentioned statement, Gmarket and Interpark spokesman for the two companies have yet to be confirmed.
eDaily report said, eBay transactions with the above-mentioned Gmarket will officially sign an agreement this week. Gmarket is a NASDAQ listed company, operates mainly in the Internet retail business, currently South Korea has reached 10 million registered users, and its major competitors eBay Korea for Internet Auction.
In September last year, South Korean antitrust agency Fair Trade Commission (FTC) conditionally approved the acquisition of Gmarket controlling stake in eBay transactions, the reasons is that the Korean Gmarket merger with eBay, it will occupy the retail market in South Korea's share of 87%.
FTC at the time said that after the completion of the transaction, eBay and Gmarket in the three years to boost sales commissions, and must ensure that advertising and other costs were lower than South Korea's inflation rate.
Last Thursday (the U.S. stock market last Friday due to Good Day Rest Jesus) Gmarket shares on the Nasdaq in regular trading up 0.12 U.S. dollars, or 0.67 percent, to close at 18.12 U.S. dollars. Last Thursday eBay rose 1.07 U.S. dollars, or 7.67 %, to close at 15.02 U.S. dollars. - 18762
For the above-mentioned statement, Gmarket and Interpark spokesman for the two companies have yet to be confirmed.
eDaily report said, eBay transactions with the above-mentioned Gmarket will officially sign an agreement this week. Gmarket is a NASDAQ listed company, operates mainly in the Internet retail business, currently South Korea has reached 10 million registered users, and its major competitors eBay Korea for Internet Auction.
In September last year, South Korean antitrust agency Fair Trade Commission (FTC) conditionally approved the acquisition of Gmarket controlling stake in eBay transactions, the reasons is that the Korean Gmarket merger with eBay, it will occupy the retail market in South Korea's share of 87%.
FTC at the time said that after the completion of the transaction, eBay and Gmarket in the three years to boost sales commissions, and must ensure that advertising and other costs were lower than South Korea's inflation rate.
Last Thursday (the U.S. stock market last Friday due to Good Day Rest Jesus) Gmarket shares on the Nasdaq in regular trading up 0.12 U.S. dollars, or 0.67 percent, to close at 18.12 U.S. dollars. Last Thursday eBay rose 1.07 U.S. dollars, or 7.67 %, to close at 15.02 U.S. dollars. - 18762
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