Influencer UK - Editorial Team
Britain accounted for less than 10 percent of the consolidated revenue of eBay’s classifieds business and 1 percent of Adevinta’s consolidated revenue, Adevinta said.
In the latest CMA merger investigation involving large digital companies, the watchdog said it is “thoroughly examining deals to ensure that competition is not restricted and consumers’ interests are protected”.
The CMA this month said Viagogo must sell StubHub’s international business after its $4.05 billion (roughly Rs. 29,500 crores) purchase of eBay’s ticket-reselling business.
Adevinta and eBay will together propose legally binding solutions to resolve the regulator’s concerns before the deadline of February 23, Adevinta said.
The CMA would then have five working days to consider whether to accept the companies’ proposals or to refer the deal for an in-depth investigation.
Adevinta shares were down 4.3 percent at 11:21 GMT (roughly Rs. 4:51pm), lagging a flat Oslo benchmark index.
The company said it would provide a further update in early March after the CMA’s decision.
