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.