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The UK Competition & Markets Authority on Monday said it has launched an inquiry into the proposed merger of online second-hand marketplaces eBay Inc and Depop Ltd. The watchdog will investigate whether the deal substantially reduces competition within the UK, and has until August 6 to publish a phase-one decision. San Jose, California-based eBay in February said it had agreed to buy Depop from New York-based Etsy Inc for roughly $1.2 billion in cash. At the time, eBay estimated Depop, a consumer-to-consumer fashion marketplace, represented more than $10 billion in annual gross merchandise volume, having seen 10% on-year GMV growth in 2025. The deal has approval from both companies’ boards and is expected to close in the second quarter of 2026, with Depop retaining its current branding. ‘This acquisition presents an opportunity to advance one of our newest and fastest-growing focus categories with a marketplace that complements our existing presence, and enables us to reach a younger demographic across the expanding recommerce landscape,’ commented eBay Chief Executive Jamie Ianonne. Last month, eBay itself rebuffed a takeover approach from Grapevine, Texas-based video game seller GameStop Corp. eBay characterised the offer, which valued the company at $125 per share or $56 billion in total, as ‘neither credible nor attractive’. ‘eBay’s board is confident that the company, under its current management team, is well positioned to continue to drive sustainable growth, execute with discipline, and deliver long-term value for our shareholders,’ Chair Paul Pressler said in May. eBay shares closed 0.2% higher at $109.35 on Friday in New York, for a market capitalisation of $48.55 billion. The stock has advanced 38% over the past year. Etsy closed 0.3% lower at $66.86, giving it a market cap of $6.34 billion, having gained 4.7% in the past year. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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