eBay Down as Source Denies Bid

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eBay

(EBAY) - Get Report

was down 11.2% in midmorning after a source told

Reuters

the online auctioneer is not in talks to buy

uBid

, a business to consumer auction company owned by

CMGI

(CMGI)

.

Barron's

reported the possible acquisition this weekend but Reuters said there have been no discussions. Meanwhile, reports in Korea said eBay will pay $264 million for a controlling stake in that country's largest Internet auction company. Internet stocks were broadly lower. CMGI was down 4.6%.

Yahoo!

(YHOO)

was down 3.9%.

Amazon.com

(AMZN) - Get Report

was down 2.3%.

TheStreet.com Internet Index

was down 4.4%.