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Mon Dec 18 2006 16:56:30

eBay-China Rumors Taken to HNL with WSJ Report

By: Ina Steiner

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The Wall Street Journal is reporting that eBay will announce tomorrow that it is shutting eBay Eachnet and will replace it with a new site in a partnership with Tom Online. According to the financial newspaper, reports are that eBay will own 49 percent, and Tom Online will own 51 percent.

This takes rumors about eBay's China plans to a whole 'nother level, after a summer of speculation.  It's interesting to look back at a September post about the rumors.

While the Journal reports that eBay will take down the site for intra-Chinese trading, it will leave parts of it to enable cross-border trading. However, eBay has placed limits on cross-border trading on its Chinese site due to issues of counterfeiting, spam and fraud.

More to follow in Newsflash as we attempt to confirm what's going on. Paid subscription to Wall Street Journal is required to view the article.




Comments (2) | Permalink

Readers Comments

eBay-China Rumors Taken to HNL with WSJ Report   eBay-China Rumors Taken to HNL with WSJ Report

by: Randy Smythe

Mon Dec 18 19:29:23 2006

It will be interesting to see how Wall Street responds to the announcenment. China was a "money pit" so I would think investors would look at this as a positive move.

eBay-China Rumors Taken to HNL with WSJ Report   eBay-China Rumors Taken to HNL with WSJ Report

by: Sunny

Wed Jan 3 13:48:02 2007

Counterfeiting is a huge headache for all businesses both Chinese and international.  When I was in Beijing China, $1 counterfeit DVDs literally flooded the streets.  I think eBay being a potential sales channel for those items is the least of Chinese government's problems on IP protection.  The general thinking down there is a counterfeit MI3 DVD is not going to put a dent in Tom Cruise's lavish life style.



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