eBay gets permission to acquire Gmarket
September 25th, 2008 Leave a comment Visited 36 times, 1 so far today
eBay gets permission to acquire Gmarket
US based online auction service eBay has now received permission from the South Korea government to acquire Gmarket.
Gmarket is the leading online auction and shopping service in the country.
eBay is now authorized to buy a 36 percent stake in Gmarket from Interpark.
Interpark chairman Lee Ki-Hyung spoke about this new development: “Despite concerns over the impact on the country’s open market, the FTC approved the deal as most Internet-based markets are easily accessible and new competitors may emerge at any time in online markets.”
eBay plans to further boost their ownership in the company through purchases in the stock market.
Checkout: Gmarket
Acquisitions, Auction, eBay, Gmarket, Lee Ki-Hyung, South Korea, USA, Web Services
Somanshu
Category: News
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