Trending...
- Are Productions Missing the Full Opportunities of Social Media Marketing?
- Legacy Gospel Series Project - New Previously Unreleased Recordings
- Obtain a USCG Captain's License During COVID-19
SAN JOSE, Calif., Feb. 16, 2021 /PRNewswire/ -- eBay Inc. (NASDAQ: EBAY) can confirm that the UK Competition and Markets Authority (CMA) has announced it has concerns that the proposed transaction between eBay Inc. and Adevinta ASA could reduce competition in the UK, following its Phase 1 review.
eBay and Adevinta now have the opportunity to propose potential remedies to avoid the transaction being referred to further investigation. While eBay and Adevinta do not agree with the CMA's reasoning, they will work constructively with the CMA and are confident in finding a suitable resolution.
eBay and Adevinta will together propose legally binding solutions to resolve the CMA's competition concerns before the deadline of February 23, 2021. The CMA will then have five working days to consider whether to accept the solutions, or to refer the deal to an in-depth investigation. A further update will be provided in early March following this decision.
In 2019, eBay Classified Group's UK business accounted for less than 10% of its consolidated revenues and Adevinta's UK business accounted for only 1% of its consolidated revenues.
eBay and Adevinta remain excited about the proposed transaction and look forward to closing.
About eBay:
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects millions of buyers and sellers in 190 markets around the world. We exist to enable economic opportunity for individuals, entrepreneurs, businesses and organizations of all sizes. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2020, eBay enabled $100 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
More on The Californer
Forward-Looking Statements
Certain statements herein are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Such forward-looking statements are often identified by words such as "anticipate," "approximate," "believe," "commit," "continue," "could," "estimate," "expect," "hope," "intend," "may," "outlook," "plan," "project," "potential," "should," "would," "confident," "will" and other similar words or expressions. Such forward-looking statements reflect eBay's current expectations or beliefs concerning future events and actual events may differ materially from historical results or current expectations. The reader is cautioned not to place undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of eBay. The forward-looking statements in this document address a variety of subjects including, for example, the closing of the Transaction and the potential benefits of the Transaction. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the possibility that regulatory and other approvals and conditions to the Transaction are not received or satisfied on a timely basis or at all, including the possibility that the parties are not able to agree with the CMA on acceptable solutions to address the CMA's concerns; the possibility that eBay may not fully realize the projected benefits of the Transaction; changes in the anticipated timing for closing the Transaction; business disruption during the pendency of or following the Transaction; diversion of management time on Transaction-related issues; the reaction of customers and other persons to the Transaction; and other events that could adversely impact the completion of the Transaction, including COVID-19 and industry or economic conditions outside of our control. In addition, actual results are subject to other risks and uncertainties that relate more broadly to eBay's overall business, including those more fully described in eBay's filings with the Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K for the fiscal year ended December 31, 2020 and subsequent quarterly reports on Form 10-Q. The forward-looking statements in this document speak only as of this date. We undertake no obligation to revise or update publicly any forward-looking statement, except as required by law.
More on The Californer
SOURCE eBay Inc.
Related Links
https://www.ebayinc.com/
eBay and Adevinta now have the opportunity to propose potential remedies to avoid the transaction being referred to further investigation. While eBay and Adevinta do not agree with the CMA's reasoning, they will work constructively with the CMA and are confident in finding a suitable resolution.
eBay and Adevinta will together propose legally binding solutions to resolve the CMA's competition concerns before the deadline of February 23, 2021. The CMA will then have five working days to consider whether to accept the solutions, or to refer the deal to an in-depth investigation. A further update will be provided in early March following this decision.
In 2019, eBay Classified Group's UK business accounted for less than 10% of its consolidated revenues and Adevinta's UK business accounted for only 1% of its consolidated revenues.
eBay and Adevinta remain excited about the proposed transaction and look forward to closing.
About eBay:
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects millions of buyers and sellers in 190 markets around the world. We exist to enable economic opportunity for individuals, entrepreneurs, businesses and organizations of all sizes. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2020, eBay enabled $100 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
More on The Californer
- Recording Artist "Cherne" Crystal Brown auditions for Sony Music, Atlantic Records and Capitol Records and it doesn't stop there
- San Francisco: City Leaders Join Together to Announce Two New Initiatives to Prevent Recidivism and Gun Violence
- San Jose: Draft IS/Addendum: Our Lady of La Vang Church (SP19-028)
- San Jose: Draft IS/Addendum: 645 Horning Street Gas Station, Food, and Storage Project (PDA16-027-02)
- San Francisco Moves to Phase 1B of COVID-19 Vaccinations, Expands Eligibility to Educators, Child Care, Emergency Services, Food and Agriculture Workers
Forward-Looking Statements
Certain statements herein are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Such forward-looking statements are often identified by words such as "anticipate," "approximate," "believe," "commit," "continue," "could," "estimate," "expect," "hope," "intend," "may," "outlook," "plan," "project," "potential," "should," "would," "confident," "will" and other similar words or expressions. Such forward-looking statements reflect eBay's current expectations or beliefs concerning future events and actual events may differ materially from historical results or current expectations. The reader is cautioned not to place undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of eBay. The forward-looking statements in this document address a variety of subjects including, for example, the closing of the Transaction and the potential benefits of the Transaction. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the possibility that regulatory and other approvals and conditions to the Transaction are not received or satisfied on a timely basis or at all, including the possibility that the parties are not able to agree with the CMA on acceptable solutions to address the CMA's concerns; the possibility that eBay may not fully realize the projected benefits of the Transaction; changes in the anticipated timing for closing the Transaction; business disruption during the pendency of or following the Transaction; diversion of management time on Transaction-related issues; the reaction of customers and other persons to the Transaction; and other events that could adversely impact the completion of the Transaction, including COVID-19 and industry or economic conditions outside of our control. In addition, actual results are subject to other risks and uncertainties that relate more broadly to eBay's overall business, including those more fully described in eBay's filings with the Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K for the fiscal year ended December 31, 2020 and subsequent quarterly reports on Form 10-Q. The forward-looking statements in this document speak only as of this date. We undertake no obligation to revise or update publicly any forward-looking statement, except as required by law.
More on The Californer
- All-new Virtual Music Lounge Turntable Adds Amanda Levensohn as Creative Director
- Honorary Oscar-Winner Charles Burnett brings his award winning film on COVID-19 / Black Hollywood to the Prestigious Pan African 2021 Film Festival
- In a year of recession, Lantek closes 2020 with record sales figures and customer numbers
- SHAREHOLDER ACTION REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Ebix, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
- Emmy Nominated Television Producer, Erika Bryant To Release New Book Titled Doing It Scared
SOURCE eBay Inc.
Related Links
https://www.ebayinc.com/
Filed Under: Business
0 Comments
Latest on The Californer
- Governor Newsom Signs Legislative Package Providing Urgent Relief to Californians Experiencing Pandemic Hardship
- The Best SEO Company in New York City Is Proving Local Businesses Free SEO Audit As COVID-19 Relief
- New DL-100S Series Remote Temperature & Humidity Data Logger with LCD Screen & IP66 Housing
- Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Jianpu Technology, Inc. (JT)
- Managing Artificial Intelligence (AI) Projects Mini-Conference scheduled for March 27
- Muslim Lifestyle Website 'Eid Collective' Announces Official Launch
- Private Placement Markets Launches its PPM Life Insurance Company Backed Commercial Mortgage Loans
- Fennemore Names New Office Managing Partners, Practice Group Leaders & Chief Diversity Officer
- Memorial Hospital of Gardena Honors Nurses With the DAISY Award
- Chevy Repairs Kept Affordable with autopom! Vehicle Protection Plans
- Astra Launches Automated Bank Transfer API for Financial Institutions and Fintech Companies
- Wohler adds to their iVAM range with the launch of the iVAM2-2
- Optimal Empowers Procurement Teams with Expert Best Practices
- Announced Sale of Wells Fargo Closed-End Funds' Advisor and Subadvisors
- Garland Technology and Endace Bring Network-Wide Visibility to SecOps and NetOps teams
- BEYOND GUANTANAMO: Louisiana Candidate for Congress blazes trail to freedom for U.S. political prisoners
- Andersen Solidifies Africa Platform
- California: In Kern County, Governor Newsom Announces New Central Valley Vaccine Initiatives Serving Hardest-Hit Communities
- Panish Shea & Boyle LLP Announces Record $39.5 Million Settlement for College Student Who Suffered Heat Stroke During Outdoor Jogging Class
- Celebrate International Women's Day at the Virtual Women's Expo