February 16 - 17:02
Competition concerns arise over Adevinta's $9.2bn acquisition of Gumtree
The United Kingdom's competition watchdog has raised concerns over Adevinta’s $9.2 billion takeover of U.S. e-commerce group eBay’s Gumtree. The British authority said that the deal could increase the fees people are charged for advertising goods online, as Facebook Marketplace would be the only significant competitor. Shares of the Norwegian company went down 4.3% after the news broke.
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