UK Watchdog Reviews eBay Purchase of Depop Fashion App
The Competition and Markets Authority has opened a phase 1 investigation into the 1.2 billion dollar deal to determine its impact on the UK resale market. A decision on whether to clear the transaction or proceed to an in-depth probe is expected by August 6.
EBAY INC faces a formal competition probe in the United Kingdom over its $1.2B acquisition of fashion resale app Depop. The Competition and Markets Authority (CMA) launched the review on Monday after concluding an initial information-gathering phase. The investigation determines if the deal reduces market competition as eBay Inc attempts to capture a younger demographic.
### CMA Sets Deadline for Phase 1 Results The CMA closed its invitation for public comment on Monday to assess how the transaction impacts the British resale sector. Regulators must now decide by August 6 whether to clear the deal or escalate to a more in-depth Phase 2 investigation. This formal step follows the end of the regulator's preliminary inquiry into the merger.
