Today, Schibsted ASA confirms that the UK Competition and Markets Authority (CMA) has announced that it has concerns that the proposed acquisition of eBay Classifieds Group by Adevinta ASA (“Adevinta”) from eBay Inc (“eBay”) could reduce competition in the UK, following its Phase 1 review.
Adevinta and eBay now have the opportunity to propose potential remedies to avoid the transaction being referred to further investigation. Adevinta and eBay are confident in finding a suitable resolution with the CMA.
Adevinta and eBay will together propose legally binding solutions to resolve the CMA’s competition concerns before the deadline of 23 February 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. Further updates will be provided following this decision.
Schibsted remains supportive of the proposed transaction and looks forward to closing.
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