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Adevinta buy of eBay Classifieds Group raises UK competition concerns

( February 16, 2021, 08:05 GMT | Official Statement) -- MLex Summary: Adevinta’s anticipated $9.2 billion purchase of eBay Classifieds Group from eBay could lead to higher prices and less choice for consumers, the UK's Competition and Markets Authority has said. The authority said it is concerned the merger could lead to a loss of competition between Shpock, Gumtree and eBay’s marketplace, with only Facebook Marketplace remaining as a significant competitor. "This could reduce consumer choice, increase fees or lower innovation in the supply of platforms that allow people to buy and sell goods online," the CMA said. Adevinta and eBay now have until Feb. 23 to offer solutions to resolve the CMA’s concerns. The CMA then has five working days to consider whether to accept the offer instead of referring the deal to an in-depth investigation.Statement follows....

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