Vend Marketplaces ASA

Schibsted ASA (SCHA/SCHB) - Adevinta's Proposed Acquisition of eBay Classifieds Group: Update from the UK Competition & Markets Authority

16.2.2021 08:04:48 CET | Schibsted | Non-regulatory press releases

Today, Schibsted ASA confirms that the UK Competition and Markets Authority

(CMA) has announced that it has concerns that the proposed acquisition of eBay

Classifieds Group by Adevinta ASA ("Adevinta") from eBay Inc ("eBay") could

reduce competition in the UK, following its Phase 1 review.

Adevinta and eBay now have the opportunity to propose potential remedies to

avoid the transaction being referred to further investigation. Adevinta and eBay

are confident in finding a suitable resolution with the CMA.

Adevinta and eBay will together propose legally binding solutions to resolve the

CMA's competition concerns before the deadline of 23 February 2021. The CMA will

then have five working days to consider whether to accept the solutions, or to

refer the deal to an in-depth investigation. Further updates will be provided

following this decision.

Schibsted's acquisition of eBay Classifieds' Danish businesses, DBA.dk

[http://dba.dk] and Bilbasen.dk [http://bilbasen.dk], will be completed once the

transaction between eBay and Adevinta has been closed.

Schibsted remains supportive of the proposed transaction and looks forward to

closing.

Contacts

Adevinta:

Mélodie Laroche

Head of Corporate Communications, Adevinta

+33 (0) 6 84 30 52 76

Schibsted:

Atle Lessum

Head of Group Communications

+47 415 05 645

Jann-Boje Meinecke

Head of Investor Relations

+47 941 00 835

ATTACHMENTS

* Download announcement as PDF.pdf

[https://kommunikasjon.ntb.no/ir-files/17847482/318/392/Download%20announceme

nt%20as%20PDF.pdf]

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