Deals

Prosus Submits Highest Offer for EBay Classifieds Unit

EBay board to meet Friday to formally choose preferred bidder
Sale is expected to fetch more than $8 billion for EBay

The eBay Inc. application.
Photographer: Daniel Acker/Bloomberg

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By Jan-Henrik Foerster, Dinesh Nair, Loni Prinsloo, and Aaron Kirchfeld

July 17, 2020 at 9:16 AM UTC

Updated on

July 17, 2020 at 1:45 PM UTC

This article is for subscribers only.

Prosus NV handed in the highest offer for EBay Inc.’s classifieds unit, putting the Naspers Ltd.-owned business in pole position to win one of the largest auction processes this year, people familiar with the matter said.

The EBay board is scheduled to meet Friday to formally choose a preferred bidder, the people said, asking not to be identified because the information is private. A sale of the classifieds business was expected to fetch more than $8 billion, Bloomberg News has reported.