EBay rises on 80% stake sale of South Korean business to E-Mart

E-Mart

24/06/2021 16:08

** Shares of e-commerce company  EBAY.O  up 1.5% at $66.26
in early trading
    ** Stock on track for fifth straight session of gains
    ** South Korean retailer Shinsegae Group's E-Mart Inc
 139480.KS  says it plans to acquire an 80% stake in EBAY's
regional business for 3.4 trillion won ($3 billion)  urn:newsml:reuters.com:*:nL2N2O60FG
    ** EBAY Korea operates e-commerce platforms Gmarket, Auction
and G9
    ** EBAY says it will retain a 20% interest in the Korean
business, which has an implied value of about $3.8 bln
    ** The transaction is expected to close by year-end or early
next year
    ** Stock up 32% YTD

 (Reporting by Eva Mathews in Bengaluru)
 ((eva.mathews@thomsonreuters.com))