San Jose The South African media group Naspers and an investor group supported by German competitor Axel Springer appear to be among the bidders for eBay’s classified advertising business. At least that is reported by the Bloomberg news agency, citing informed circles.
Accordingly, Axel Springer has teamed up with the investment company KKR. The Norwegian marketing group Adevinta ASA is also said to have made a bid for the area, according to people familiar with the matter, Bloomberg reports. In addition, a consortium from Blackstone Group, Permira and Hellman & Friedman is interested in the business.
Adevinta, Axel Springer, Blackstone, KKR, Naspers and Permira declined to comment at the news agency’s request. Enay and Hellman & Friedman spokesmen initially did not respond to Bloomberg’s request.
According to one of the Bloomberg insiders, the division could bring in eight to ten billion dollars. It is possible that Ebay will decide in the coming week which applicants will come to the next round.
Ebay had announced in February that the group was in talks with several parties about the sale of the business and that investors would be informed about further developments by the end of the first half of the year.
The online trading platform based in San José, California, generated higher sales than originally expected in the first quarter. The classified ad division, however, is weighing on eBay’s business.
More: Instagram instead of television – that’s the future of sales shows.