EBay Reportedly Moving Ahead With Plans to Sell StubHub
Bloomberg News
Shares of eBay (EBAY) - Get Report were down slightly after CNBC reported a source said the e-commerce giant was moving forward with plans to sell StubHub.
The source told CNBC's David Faber that eBay is in early talks with several suitors, and "multiple" parties are interested in buying the ticket-exchange subsidiary.
Initially the stock was up close to 3% on the news Wednesday morning, but were lately trading down 0.3% to $39.79.
There has been a lot of activist pressure on eBay to sell off pieces of its marketplace platform. Elliott Management, who took a $1.4 billion stake in eBay this year, and another activist investor Starboard Value have been vocal. eBay hosts it own marketplace and has a suite of mobile apps; of course, it owns the StubHub platforms and its mobile apps; its classifieds platforms that house a collection of brands, such as mobile.de, Kijiji, Gumtree, Marktplaats, eBay Kleinanzeigen; and others.
eBay declined to comment on the potential sale, but the company is slated to report its quarterly earnings after the close on Wednesday.
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