Shinsegae denies agreement to buy eBay Korea Korean conglomerate says deal has not been finalized yet, while rival Lotte withdraws
Translated by Ryu Ho-joung 공개 2021-06-18 06:45:11
이 기사는 2021년 06월 18일 06:41 thebell 에 표출된 기사입니다.
South Korean retail giant Shinsegae Group has denied media reports that it has become the new owner of US-based eBay’s South Korean business, with many suspecting the sudden change in its stance could be part of efforts to further negotiate the final acquisition price.Shinsegae’s Emart, which participated in the bidding for eBay Korea, said in a filing on Wednesday that discussions with eBay Inc are still ongoing and the deal has not been finalized.
Shinsegae also noted that it has yet to be told by the US ecommerce company that the conglomerate’s supermarket chain is selected to be the winner of the bidding process, stressing that further negotiations are needed before finalizing the deal.
Media reports about Shinsegae’s victory in the bidding war for eBay Korea came after Lotte Group, which was the only rival bidder to Shinsegae, confirmed that it had withdrawn from the bidding process.
Shinsegae’s cautious response to the media reports contrasts with the strong interest the conglomerate has been showing in acquiring eBay Korea in a bid to catch up with online retail competitors in the domestic ecommerce market.
After receiving binding offers from Shinsegae and Lotte earlier this month, the US company conducted another round of bidding, hoping that competition between the two retail giants would drive up the sale price. However, only Shinsegae raised its offer, whereas Lotte did not submit a fresh bid.
Many point out the expensive price as the reason for Shinsegae avoiding to confirm that it is the winner of the bidding. Ebay Inc has reportedly made it clear that the final candidate selected in the bidding process would become a buyer of its South Korean unit without additional negotiations. It is said that there are also penalties for violations.
The sudden shift in Shinsegae’s stance could indicate the conglomerate’s interest in acquiring eBay Korea has been somewhat cooled, industry watchers said. Some speculate a scenario where the deal ultimately falls through.
“Lotte’s withdrawal from the deal seems to put Shinsaegae in an awkward position,” said a source close to the bidding process.
“Confirming it wins the bidding would mean that Shinsegae has to pay its bid price without further negotiations. This explains its cautiousness.” (Reporting by Eun-jin Choi)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 삼성전자, 러·우 전쟁 장기화에도 현지연구소 '버티기'
- 카카오게임즈, 메타보라 통해 블록체인 사업 '재시동'
- [Company Watch]'메모리 권토중래' 웃은 삼성전자, 힘 보탠 '가전·하만'
- [IR Briefing]갤럭시에 MZ세대 반응, 모든 제품에 AI 탑재한다
- '멀티LLM 선택' SKT, 비용 줄이고 효율 높인다
- [김화진칼럼]인공지능의 이사회 합류
- [thebell note]스테이지엑스는 '개봉 전'
- [IR Briefing]'전기차 캐즘 영향권' 삼성SDI, 투자 승부수 통할까
- [Company Watch]'LGD 협력사' 아바코, BOE 8.6세대 OLED 공급망 합류
- [코스닥 CB 프리즘]서진시스템, 보통주 전환 물량에 30% 할증 풋옵션 '이례적'