Tom Online: eBay's Last China Card

The auction giant's hookup with the well-connected, Hong Kong-based, Internet outfit signals a retreat on the mainland from eBay's core biz

Ebay's (EBAY) long-expected retreat from the online auction business in China is now a reality. On Dec. 20, the U.S.company released the details. It will shut down its existing site in China, then buy 49% of a joint venture with a local partner, which will run the renovated auction business with eBay's help. The local partner is Tom Online (TOMO).

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