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Bloomberg
EBay Inc’s sale of its online classifieds business to Adevinta ASA has hit a hurdle, as UK regulators voice concerns over the potential threat to competition that the tie-up poses.
The UK Competition and Markets Authority (CMA) told the companies to propose remedies that address antitrust concerns for the deal, which was valued at $9.2 billion when it was announced last year.
The regulator has consistently promised a tough stance on tech mergers following the UK’s exit from the
European Union.
“While Adevinta and EBay do not agree with the CMA’s reasoning, they will work constructively with the CMA and are confident in finding a suitable resolution,†Oslo-based Adevinta said in a statement.
The companies are working closely with the regulator “to achieve the best outcome,†Ebay said in a separate
statement.