US-based eBay Becomes Largest Shareholder in Chinese Website

Home>>Business

Last updated at: (Beijing Time) Tuesday, June 17, 2003

US-based eBay Becomes Largest Shareholder in Chinese Website

DISCUSSION

CHINESE

SEND TO FRIEND

eBay, the world's largest e-commerce company, has purchased 150 million US dollars worth of additional shares in China's leading auction website, eachnet.com, making it the company's largest shareholder, according to the Chinese firm.

eachnet.com, a Shanghai-based firm, is the chief operator of business-to-commerce services in China.

eBay began buying shares of eachnet.com in March 2002, when it paid 30 million US dollars for 33 percent of the shares of the US branch of eachnet, and bought the remaining shares through this latest purchase, said eachnet.

The Chinese company did not specify what percentage of its shares is held by eBay.

Users of eBay and eachnet, operating on unconnected platforms for the time being, are currently unable to conduct inter-platform transactions, eachnet said.

Questions?Comments? Click here

US Wants Participation of South Korea, Japan in DPRK Nuclear Talks ( 8 Messages)

China Builds World's Longest Trans-oceanic Bridge ( 9 Messages)

Trial Navigation via Three Gorges Ship Lock Begins ( 2 Messages)

Dialog: Focus on US Global Military Deployment ( 3 Messages)