EBay Seeks To Retain Stake in Classifieds Unit, Challenging Prosus Bid; Top Analyst Raises PT

dhita yudha

EBay Inc. (EBAY) reportedly prefers to keep a stake in the classified advertising unit it’s selling, reducing the odds that Prosus NV will win the hotly-contested auction.

The decision made at a board meeting on Friday gives a surprise likelihood to a bid from Norwegian online marketplace Adevinta ASA, which offered a mix of cash and stock and would leave EBay with a significant stake in the combined business, Bloomberg reported. A combination of the classifieds unit with the listed Scandinavian firm would also allow EBay to benefit from any future increase in the shares.

Separately, a private equity consortium backed by Blackstone Group Inc. (BX), Permira and Hellman & Friedman has been interested in the unit and also offered to let EBay keep a minority stake.

Until as recently as Friday, Naspers Ltd.-owned Prosus was considered to be the front runner for a deal after

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eBay Wants to Keep Stake in Classifieds Sale, Hurting Prosus Bid

dhita yudha

(Bloomberg) — EBay Inc. would prefer to keep a stake in the classified advertising business it’s selling, according to people familiar with the matter, lessening the chances Prosus NV will win the hotly-contested auction.

The decision at a board meeting on Friday gives a surprise boost to a bid from Norwegian online marketplace Adevinta ASA, which offered a mix of cash and stock and would leave EBay with a significant stake in the combined business, the people said, asking not to be identified as discussions aren’t public. A combination of the classifieds unit with the listed Scandinavian firm would also allow EBay to benefit from any future increase in the shares, they said.

A private equity consortium backed by Blackstone Group Inc., Permira and Hellman & Friedman has separately been pursuing the unit and also offered to let EBay keep a minority stake, the people said.

Until as recently as

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