Shares of Adevinta were halted from trading on Monday morning on the Amsterdam-based Euronext, pending the release of a major announcement. According to Bloomberg, Adevinta is negotiating the final terms of an agreement with EBay for the acquisition of its classifieds business, but talks could still drag on or fall apart.
Three groups are still believed to be in the running for EBay Classifieds Group, which operates Mobile.de / EBay-Kleinanzeigen in Germany; Gumtree in Australia, South Africa and the U.K.; Kijiji in Canada and Italy, and a number of other classified businesses. We’ve covered the potential sale extensively.
Because EBay Inc. wants to retain a share in the classified business, that “gives a surprise boost” to a bid from Adevinta, the Schibsted subsidiary, which offered a mix of cash and stock for its proposal, according to Bloomberg.