EBay Inc.’s planned merger of its two South Korean units will be delayed further, the company’s local unit said in a regulatory filing, without giving a reason.
The merger of EBay Gmarket Co. and EBay Auction Co. was scheduled to take place on Nov. 1, according to today’s statement. The world’s largest e-commerce marketplace operator didn’t give a new date for the merger.
EBay acquired online auctioneer Gmarket Inc. for $1.2 billion last year to expand in South Korea, one of the most Internet-connected nations in the world. San Jose, California- based EBay plans to combine the two local units as it seeks to more than double sales in the country.
Gmarket and EBay Auction controlled more than 70 percent of traffic to online market places last month in South Korea, according to Rankey.com, a research company that tracks the nation’s e-commerce sites.
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