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BRIEF-eBay to invest $500 mln in Flipkart, sell eBay.in business

April 10 eBay Inc:

* eBay and Flipkart sign exclusive agreement to jointly address the eCommerce market opportunity in India

* In exchange for an equity stake in Flipkart, eBay will make a $500 million cash investment in and sell its eBay.in business to Flipkart

* eBay does not expect this transaction to have a material impact on its guidance provided on January 25, 2017

* Flipkart will own and operate eBay.in business upon close of transaction

* Upon close of transaction, which is expected later this year, Flipkart will acquire eBay's buyers in India

* eBay and Flipkart have also entered into an exclusive agreement in which they will jointly pursue cross-border trade opportunities

* eBay will remove number of active buyers in India from its reporting during quarter in which transaction closes Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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