Kakao Does Not Participate in Preliminary Bidding for eBay Korea Acquisition
[Asia Economy Reporter Buaeri] Kakao, which was considered a strong candidate for acquiring eBay Korea, did not participate in the preliminary bidding.
According to industry sources on the 16th, Kakao ultimately did not take part in the preliminary bidding for eBay Korea.
The preliminary bidding included major distribution conglomerates such as Lotte Group and Shinsegae Group, as well as SK Telecom and MBK Partners.
Kakao appears to have made the decision to withdraw after much deliberation. The 5 trillion won price eBay Korea set as the desired sale price is also believed to have significantly influenced their judgment.
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Although the participation of various companies raised the 'valuation,' eBay's declining performance and the need for additional investment after acquisition seem to have posed considerable burdens.
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