eBay Reportedly To Buy 34.2% GMKT Stake For $413M - Eric Savitz (Barron's)

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eBay Reportedly To Buy 34.2% GMKT Stake For $413M
Apr 13, 2009 02:58 PM UTC

Eric Savitz (Barron's)

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Symbol	Sentiment	Start	Return	Closed
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GMKT	n/a

Via BARRONS.com: Tech Trader Daily - Barron's Online:

eBay (EBAY) has agreed to buy a 34.2% stake in South Korea-based Gmarket (GMKT) for $413 million, according to Reuters, which cites a report from the Korean news service eDaily. The report says eBay would buy the stake from Interpark, the firmâ€™s largest holder, for $24 a share. Gmarket competes with eBayâ€™s own Korean unit, Internet Auction Co. The story says the two companies combined have 87% of the online customer-to-customer market.

GMKT today is up $1.54, or 8.5%, to $19.66; EBAY is off 52 cents, or 3.5%, to $14.50.

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