eBay moot purchase of 2nd South Korea marketplace
eBay are in talks to buy a minority share their largest South Korean competitor – Gmarket Global marketplace. eBay’s current South Korean site is it’s subsidiary Internet Auction Co which they bought a 49.9% stake in, in 2003.
eBay have said “There can be no assurance that the Korea Fair Trade Commission will approve the possible transaction, that an agreement will be reached or that a transaction will occur“. Growth by acquisition is something eBay is no stranger to – their 2nd biggest territory came from their purchase of Alando which became eBay Germany. If the minority share in Gmarket goes ahead it’s likely eBay will want to increase their stake buying out other shareholders.