UK Competition Watchdog Accepts Undertakings from Adevinta, eBay
June 02 2021 - 1:40AM
Dow Jones News
By Ian Walker
The U.K. Competition and Markets Authority said Wednesday that
it has accepted undertakings offered by eBay Inc. and Adevinta ASA
to address its competition concerns, and therefore won't refer the
companies' deal for a further phase-two review.
The regulator previously said that Adevinta's anticipated $9.2
billion acquisition of eBay Classifieds Group from eBay Inc. raised
competition concerns.
The parties offered to sell Gumtree's U.K. business and Shpock.
Adevinta said at the time that it had proposed RussMedia Equity
Partners as the up-front buyer of the Shpock business.
The CMA said at the time that it provisionally decided that the
proposed undertakings would be effective and that it had no
concerns about their implementation.
The deal is expected to be completed in the second quarter,
subject to the CMA's final approval of the proposed undertakings
and regulatory approval in Austria.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
June 02, 2021 02:34 ET (06:34 GMT)
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