EBAY eBay Inc

By Adam Clark

eBay Inc. (EBAY) is buying British car marketplace Motors.co.uk it was announced Friday, knocking shares in rival Auto Trader Group PLC (AUTO.LN).

Current Motors.co.uk owner Cox Automotive announced the sale for an undisclosed price. The website will join eBay's U.K. classified advertisement business Gumtree.

"By combining Motors.co.uk's extensive inventory, dealer engagements, traffic and cutting-edge tools and services with the considerable audience of in-market car buyers provided by eBay and Gumtree, this acquisition would give UK car dealers a significantly broader reach," said Matt Barham, general manager of Gumtree UK.

Motors.co.uk and its associated websites currently attract 5.4 million unique visitors a month, Cox Automotive said.

Shares in Auto Trader at 1301 GMT were down 34.70 pence, or 8.4%, at 379.30 pence.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

October 19, 2018 09:29 ET (13:29 GMT)

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