eBay Negotiating Minority Stake in South Korea’s GMarket

eBay (NSDQ: EBAY) is in talks to acquire a minority stake in GMarket, a South Korean online auctioneer. The talks are with Interpark Corp., the Korean portal that owns 37 percent of the company. A spokesperson from eBay told AP that there was no certainty a deal would be reached or that it would be approved by South Korean regulators — eBay already owns a South Korean competitor, the aptly named Internet Auction. No deal terms have been announced, although shares of NASDAQ-listed GMarket shot up over 14 percent on the news. In 2006, Yahoo (NSDQ: YHOO) took a 10 percent stake in GMarket, so they’re a beneficiary of this as well.