Report: eBay looking to sell classifieds business

Friday, 21. February 2020 19:26

EBay Inc. is moving toward selling its classified-ads business and is looking to hear offers from a number of private-equity firms and strategic bidders, people with knowledge of the plans told the Wall Street Journal. Indications of interest, the sources added, should be expressed in March.

According to sources quoted by the media outlet on Friday, among those who have expressed interest in buying the business are private-equities TPG and Blackstone Group as well as Naspers and German publishing powerhouse Axel Springer. The deal is roughly estimated at $10 billion, the people said.

Recently, the New York Stock Exchange owner Intercontinental Exchange expressed interest to buy the e-commerce giant but soon dropped the idea as it didn't have the support from its own shareholders.

Related Links: eBay Inc.
Breaking the News / GG