eBay Inc discussing potential sale of classified ads business with multiple parties

In a statement, EBay Inc said, it is in discussion with multiple parties on a potential deal revolving around its classified-ads business. It expects to provide an update regarding the process in the coming months.

In a report the Wall Street Journal had stated, eBay is in the process of reaching out to potential buyers to sell its classified-ads business, which could be worth as much as $10 billion.

The development comes in the wake of activist investor Starboard sending a letter to eBay’s board, saying the company has not made enough progress in its plan to separate its classifieds business.

In March 2019, the company announced a strategic review of the classifieds-ads business and its StubHub ticketing unit following which it agreed to sell StubHub to Viagogo Ltd for $4.05 billion.

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