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1/5, 12:34 PM (Source: TeleTrader)
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Goldman, Morgan Stanley selling eBay Korean unit - report

eBay Inc. has hired Goldman Sachs Group Inc. and Morgan Stanley to sell its Korean subsidiary for up $4.6 billion, Korea Economic Daily reported on Tuesday.

The e-commerce giant has been exploring the sale since 2018, but was reportedly unable to close due to differences regarding the price of the Korean unit. Retail companies such as Lotte, Shinsegae, Hyundai Department Store as well as several private equity firms are considered as potential buyers, the newspaper said.

However, concerns remain that the asking price may still be too high due to the company's stagnant sales growth and falling profit margin in a highly competitive market.

Breaking the News / MD