UK competition watchdog approves Adevinta acquisition of Ebay classified ads unit

UK competition watchdog approves Adevinta acquisition of Ebay classified ads unit

By
Reuters API
Published
Jun 3, 2021

Britain's competition watchdog on Wednesday approved Norway's Adevinta's planned acquisition of U.S. e-commerce group Ebay's classified ads business.


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The two companies said in March they 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 - Reuters


The Competition and Markets Authority said in a statement it would not refer the acquisition or Ebay's purchase of a minority stake in Adevinta to further investigation.

The two companies said in March they 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.

Adevinta in a statement welcomed the CMA move, and said it targeted completion of the acquisition in the second quarter this year, subject to regulator approval in Austria.

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