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Bloomberg
EBay Inc. would prefer to keep a stake in the classified advertising business it’s selling, according to reports, lessening the chances Prosus NV will win the hotly-contested auction.
The decision at a board meeting gives a surprise boost to a bid from Norwegian online marketplace Adevinta ASA, which offered a mix of cash and stock and would leave EBay with a significant stake in the combined business. A combination of classifieds unit with listed Scandinavian firm would also allow EBay to benefit from any future increase in the shares, they said.
A private equity consortium backed by Blackstone Group Inc., Permira and Hellman & Friedman has separately been pursuing the unit and also offered to let EBay keep a minority stake, the people said.