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    A004170   KR7004170007


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S.Korean retail firms Lotte and Shinsegae bid for eBay Korea

06/07/2021 | 03:45am EDT
FILE PHOTO: The eBay logo is pictured on a screen in New York

SEOUL (Reuters) - South Korean retailers Lotte Shopping and Shinsegae Group entered separate binding bids for eBay's South Korean business, the retailers' spokesmen said on Monday.

eBay Korea - South Korea's third-largest e-commerce firm with a 12.8% market share in 2020, according to Euromonitor - is on sale for what eBay hopes could be up to 5 trillion won ($4.5 billion), analysts said.

The retailers' spokesmen declined to comment on the terms of their bids. An eBay Korea spokeswoman also declined to comment.

Local retail giants Lotte and Shinsegae have struggled to catch up to leading competitors like South Korea's No. 1 e-commerce firm Coupang in the fast-growing online shopping sector, especially after the onset of COVID-19.

South Korea's online shopping transactions were worth 161 trillion won in 2020, accounting for a record 27.2% of total retail transactions, up from 21.4% in 2019.

($1 = 1,113.1100 won)

(Reporting by Joyce Lee; Editing by Tom Hogue)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COUPANG, INC. 0.13% 38.61 Delayed Quote.0.00%
EBAY INC. 2.05% 73.54 Delayed Quote.46.35%
LOTTE CORPORATION -1.03% 38400 End-of-day quote.8.78%
LOTTE SHOPPING CO., LTD. -0.90% 110500 End-of-day quote.7.80%
SHINSEGAE INC. -0.72% 274000 End-of-day quote.14.41%
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Sales 2021 5 705 B 4,95 B 4,95 B
Net income 2021 247 B 0,21 B 0,21 B
Net Debt 2021 3 398 B 2,95 B 2,95 B
P/E ratio 2021 11,0x
Yield 2021 0,68%
Capitalization 2 695 B 2 335 M 2 339 M
EV / Sales 2021 1,07x
EV / Sales 2022 0,89x
Nbr of Employees 3 376
Free-Float 71,3%
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Last Close Price 274 000,00 KRW
Average target price 386 333,33 KRW
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Jae-Young Jang Chief Executive Officer & Director
Jeong-Seob Woo Managing Director & Head-Finance
Han-Gyung Park Managing Director & Head-Operations
Young-Ho An Independent Director
Jin-Seok Choi Independent Director
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