eBay is buying a majority stake in its main South Korean rival Gmarket after receiving final approval from South Korea’s competition commission. The company may proceed with the USD1.2bn deal as long as it freezes commission rates on seller listings for three years and sets limits on advertising hikes. The commission is also ordering eBay to develop measures to protect small sellers in areas affected by reduced competition.
The deal will see eBay wrest control of nearly 90% of South Korea’s online marketplace market.
StrategyEye's related categories: Online Marketplaces
