IN BRIEF (Page 16)
China Daily | Updated: 2009-04-14 07:43
EBay to buy Gmarket
EBay Inc has agreed to buy a controlling stake in South Korean online retailer Gmarket Inc for $413 million, at a 32.5 percent premium, news service eDaily reported yesterday.
The long-discussed deal would help US online auctioneer eBay emerge as a dominant player in South Korea's customer-to-customer online market by taking control of its key competitor. EBay would buy a 34.2 percent stake in Gmarket from its current top shareholder Interpark and the Korean firm's chairman, at $24 a share, eDaily reported, citing unidentified sources.
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