eBay Negotiating Minority Stake in South Korea's GMarket

This story was written by Joseph Weisenthal.
eBay (NSDQ: EBAY) is in talks to acquire a minority stake in GMarket, a South Korean online auctioneer. The talks are with Interpark Corp., the Korean portal that that owns 37 percent of the company. A spokesperson from eBay told AP that there was no certainty a deal would be reached or that it would be approved by South Korean regulatorseBay already owns a South Korean competitors the aptly named Internet Auction. No deal terms have been announced, although shares of NASDAQ-listed GMarket shot up over 14 percent on the news. In 2006, Yahoo (NSDQ: YHOO) took a 10 percent stake in GMarket, so they're a beneficiary of this as well.


By Joseph Weisenthal
  • CBSNews

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