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eBay Inc NASDAQ:EBAY NASDAQ Common Stock
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  -1.11 -1.5% 73.00 72.91 73.14 5,340 09:59:45

UK Competition Watchdog Accepts Undertakings from Adevinta, eBay

02/06/2021 7:40am

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   By Ian Walker 

The U.K. Competition and Markets Authority said Wednesday that it has accepted undertakings offered by eBay Inc. and Adevinta ASA to address its competition concerns, and therefore won't refer the companies' deal for a further phase-two review.

The regulator previously said that Adevinta's anticipated $9.2 billion acquisition of eBay Classifieds Group from eBay Inc. raised competition concerns.

The parties offered to sell Gumtree's U.K. business and Shpock. Adevinta said at the time that it had proposed RussMedia Equity Partners as the up-front buyer of the Shpock business.

The CMA said at the time that it provisionally decided that the proposed undertakings would be effective and that it had no concerns about their implementation.

The deal is expected to be completed in the second quarter, subject to the CMA's final approval of the proposed undertakings and regulatory approval in Austria.


Write to Ian Walker at ian.walker@wsj.com


(END) Dow Jones Newswires

June 02, 2021 02:34 ET (06:34 GMT)

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