Yahoo! Agrees to Tender Its Stake in Gmarket to eBay

SUNNYVALE, Calif.--(BUSINESS WIRE)--Yahoo! Inc. (Nasdaq:YHOO) announced today that it has agreed to sell its approximate 10% share in Gmarket (Nasdaq:GMKT), a retail e-commerce marketplace in Korea, to eBay (Nasdaq:EBAY) as part of eBay’s announced tender offer for shares of Gmarket. Yahoo! will continue to maintain its other operations in South Korea following the sale.

On April 15, 2009, eBay announced that it was commencing a tender offer to acquire all common shares and all American Depository Shares of Gmarket for a per share price of US $24.

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