EBay wins approval for South Korean acquisition
April 23, 2009
In this April 21, 2009 photo, a display advertising the eBay application for iPhone and iPod is shown at an Apple store in Palo Alto, Calif. EBay Inc. and Apple Inc. report quarterly earnings after the closing bell Wednesday. (AP Photo/Paul Sakuma)
(AP) -- Ebay Inc. has won regulatory approval to acquire online marketplace Gmarket, South Korea's antitrust watchdog said Thursday.
The Korea Fair Trade Commission's approval included various conditions for a period of three years such as keeping increases in registration and advertising fees within South Korea's rate of inflation.
EBay announced last week it would pay as much as $1.2 billion to acquire Gmarket Inc., expanding its presence in South Korea, the world's sixth-largest e-commerce market.
The San Jose, California-based company plans to combine Gmarket with Internet Auction Company, or IAC, the South Korean online marketplace it acquired in 2001.
Gmarket and IAC had a combined online marketplace share of 87.5 percent last year, the commission said.
Other conditions eBay must follow during the three-year period include not increasing sales commissions.
The regulator said eBay must also take steps to protect small sellers and establish and carry out a plan to follow South Korean antitrust law.
EBay may seek changes to the conditions after Jan. 1, 2011 in the event that market conditions change.
©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
-
eBay to take controlling stake in SKorea site for 1.2 bln dlrs
Apr 16, 2009 |
not rated yet |
0
-
Yahoo! buys 10-percent stake in Gmarket
Jun 07, 2006 |
not rated yet |
0
-
EBay's tweaks for sellers part of changes to site (Update)
Apr 14, 2009 |
not rated yet |
0
-
EBay to test eBay Bucks shopping rewards program
Apr 01, 2009 |
not rated yet |
0
-
EBay plans IPO for Skype, undoing $2.6B-plus deal
Apr 14, 2009 |
not rated yet |
0
-
Engineers build first sub-10-nm carbon nanotube transistor
Feb 01, 2012 |
4.9 / 5 (31) |
30
-
Something old, something new: Evolution and the structural divergence of duplicate genes
Jan 31, 2012 |
4.6 / 5 (7) |
1
-
The hidden nanoworld of ice crystals: Revealing the dynamic behavior of quasi-liquid layers
Jan 30, 2012 |
5 / 5 (3) |
1
-
Stock market network reveals investor clustering
Jan 27, 2012 |
3.9 / 5 (23) |
8
-
Of microchemistry and molecules: Electronic microfluidic device synthesizes biocompatible probes
Jan 26, 2012 |
5 / 5 (1) |
0
-
Need help reading 3-D
14 hours ago
-
A way to send and receive wireless data
20 hours ago
-
Tabletop Cold Fusion Reactor
21 hours ago
-
Calling function with no input argument
Feb 10, 2012
-
Force free body diagram problem on gym equipment
Feb 10, 2012
-
Empirical data regarding shower heads and water
Feb 10, 2012
- More from Physics Forums - General Engineering
More news stories
Google might launch Drive for cloud storage soon
(PhysOrg.com) -- Google's next big move, according to the Wall Street Journal, is a cloud storage service called Drive. Hardly first to the plate, Google is simply catching up to introducing its cloud reposi ...
2 hours ago |
5 / 5 (1) |
0
|
Walney offshore wind farm is world's biggest (for now)
(PhysOrg.com) -- The Walney wind farm on the Irish Sea--characterized by high tides, waves and windy weather--officially opened this week. The farm is treated in the press as a very big deal as the Walney ...
Technology / Energy & Green Tech
22 hours ago |
4 / 5 (11) |
33
|
Love a click away in Indonesia's Twitter Republic
He was a geeky kid from Yogyakarta, she a glamorous city girl in Jakarta. In a country with one of the world's most vibrant social networking scenes they fell in love on Twitter.
3 hours ago |
not rated yet |
0
GPS court ruling leaves US phone tracking unclear
A US Supreme Court decision requiring a warrant to place a GPS device on the car of a criminal suspect leaves unresolved the bigger issue of police tracking using mobile phones, legal experts say.
23 hours ago |
4 / 5 (2) |
0
Europeans protest controversial Internet pact
Tens of thousands of people marched in protests in more than a dozen European cities Saturday against a controversial anti-online piracy pact that critics say could curtail Internet freedom.
19 hours ago |
4.6 / 5 (9) |
0
Latin America mining boom clashes with conservation
Latin America is experiencing a mining boom as prices rise fuelled by a hike in global demand, but the region is also being hit by a wave of violent protests, strikes and rallies by environmentalists.
Europe stakes billion-dollar bet on new rocket
A pencil-slim rocket is scheduled to lift into space from South America on Monday, carrying a billion-dollar bet that Europe can grab a juicy slice of the market to place satellites in low orbit.
Study finds that anti-diabetic medication can prevent the long-term effects of maternal obesity
In a study to be presented today at the Society for Maternal-Fetal Medicine's annual meeting, The Pregnancy Meeting, in Dallas, Texas, researchers will report findings that show that short therapy with the anti-diabetic medication ...
Netflix settlement trims 14 pct off 4Q earnings
(AP) -- Netflix pressed the rewind button on its fourth-quarter earnings after settling allegations that the video subscription service violated a consumer-privacy law.
Navy to begin tests on electromagnetic railgun prototype launcher
The Office of Naval Research (ONR)'s Electromagnetic (EM) Railgun program will take an important step forward in the coming weeks when the first industry railgun prototype launcher is tested at a facility ...
Explained: Sigma
It's a question that arises with virtually every major new finding in science or medicine: What makes a result reliable enough to be taken seriously? The answer has to do with statistical significance -- but ...
