The Competition and Markets Authority (CMA) has cleared eBay’s anticipated acquisition of resale platform Depop following an initial probe.
The CMA began a review of the intended purchase in June, seeking views on the impact the deal could potentially have on competition in the UK.
While not a formal investigation, it said at the time it began the first part of an information-gathering process.
It has now cleared eBay’s planned takeover, meaning the ecommerce giant can move forward in the process to purchase Depop.
It was announced in February that eBay would buy Depop from Etsy for around $1.2bn, further expanding its reach and appeal to young shoppers interested in the secondhand market.
Around 90% of Depop’s 7 million active buyers are under the age of 34.
In an interview with Retail Week in May, eBay’s UK general manager Eve Williams said of the potential acquisition: “Hopefully over the coming months, we’ll be able to finalise that and explore what the future holds.
“Having Depop as part of the family would be a big benefit as it’s so connected to Gen-Z, ecommerce and fashion which will complement eBay.”
No comments yet