EBay to boost stake in Korean unit
EBay Inc., the world’s biggest Web auctioneer, said it will spend about 43 billion won ($37 million) to increase its stake in South Korean unit Internet Auction Co. EBay will buy 343,787 shares of Internet Auction at 125,000 won each, raising its stake in the company to 99.7 percent from 97 percent, it said in a statement distributed by Business Wire. The transaction is part of eBay’s plans to buy all of Internet Auction and delist the company from South Korea’s Kosdaq market, eBay said. The company wants to delist Auction because a privately held company is easier to manage, eBay spokesman Chris Donlay said in September.
with the Korea JoongAng Daily
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