2 Min Read
FILE PHOTO: The eBay logo is pictured on a phone screen in this photo illustration July 23, 2019. REUTERS/Brendan McDermid/Illustration/File Photo
OSLO (Reuters) - U.S. e-commerce group eBay and Norway’s Adevinta planned to sell three smaller British units in order to secure regulatory approval for a long-planned tie-up of their global classified ads businesses, the two firms said on Tuesday.
Britain’s Competition and Markets Authority (CMA) said last month Adevinta and eBay would have to resolve the watchdog’s concerns before proceeding with their $9.2 billion deal.
In response, Adevinta and eBay said on Tuesday they had proposed to sell each company’s primary classifieds operations in Britain, namely Shpock, Gumtree and Motors.co.uk.
2 Min Read
FILE PHOTO: The eBay logo is pictured on a phone screen in this photo illustration July 23, 2019. REUTERS/Brendan McDermid/Illustration/File Photo
OSLO (Reuters) - U.S. e-commerce group eBay and Norway’s Adevinta planned to sell three smaller British units in order to secure regulatory approval for a long-planned tie-up of their global classified ads businesses, the two firms said on Tuesday.
Britain’s Competition and Markets Authority (CMA) said last month Adevinta and eBay would have to resolve the watchdog’s concerns before proceeding with their $9.2 billion deal.
In response, Adevinta and eBay said on Tuesday they had proposed to sell each company’s primary classifieds operations in Britain, namely Shpock, Gumtree and Motors.co.uk.
Britain's competition watchdog on Tuesday raised concerns over Adevinta's planned acquisition of U.S. e-commerce group eBay's classified ads business, sending the Norwegian company's shares down 4.3%.
Adevinta ASA: Adevinta reports solid performance despite a challenging environment in Q4
1 up 4% yoy, benefiting from growing contribution from transactional revenues
EBITDA margin
1 slightly decreasing yoy at 25.6% due to acceleration of investments through Q4, in line with expectations
Accelerated deployment of transactional solutions
Further progress towards completion of the eBay Classifieds Group acquisition
Closing of Grupo Zap acquisition, start of integration phase
Oslo, 11 February 2021 - Adevinta ASA (ADE) ( Adevinta or the Company ) reported flat revenues
1 in Q4 2020 compared to Q4 2019, corresponding to a 1.4% increase excluding impacts of disposal, acquisitions and forex. This demonstrates further sequential improvement in the performance despite the challenging environment and increased Covid-19 restrictions in our key markets.