CMA approves eBay acquisition
The CMA has approved the acquisition by Gumtree’s parent company, eBay, of Motors.co.uk.
A Gumtree spokesperson said, ‘We welcome today’s decision by the Competition and Markets Authority (CMA) to approve eBay’s proposed acquisition of Motors.co.uk from Cox Automotive. Subject to satisfaction of all closing conditions and upon deal closing, Motors.co.uk will become part of Gumtree UK, an eBay Classifieds Group (eCG) business.
‘As a result of the transaction, we believe car dealers would be able to increase their sales leads and at the same time, give their consumers more choice and value.’
