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EBay Reportedly In Advanced Talks To Sell Classified-ads Business To Adevinta

July 20, 2020 — 02:48 am EDT

Written by RTTNews.com for RTTNews ->

(RTTNews) - EBay Inc. (EBAY) is in advanced talks to sell its classified-ads business to Norway's Adevinta, the wall Street Journal reported citing people familiar with the matter.

A cash-and-stock deal could be announced as soon as Monday. The eBay unit is expected to sell for about $8 billion, the Journal reported.

Ebay's classified business includes brands such as Gumtree and Kijiji and offers online ads to more than 1,000 cities around the world.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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