EBay Raises Buyback Plan to $5 Billion
June 25 2021 - 6:38AM
Dow Jones News
By Matt Grossman
EBay Inc. said it plans to raise its share buybacks planned for
this year following the completion of the transfer of its
classifieds business to Adevinta.
EBay said it is updating its capital plan to buy back $5 billion
of shares this year, compared with $2 billion under the previous
plan.
Completing the deal with Adevinta has resulted in after-tax net
cash proceeds of about $2 billion, eBay said. Responding to
Austrian regulatory authorities' concerns, eBay said it plans to
reduce its ownership stake in Adevinta to 33% or less in the next
18 months.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
June 25, 2021 06:26 ET (10:26 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
eBay (NASDAQ:EBAY)
Historical Stock Chart
From Mar 2024 to Apr 2024
eBay (NASDAQ:EBAY)
Historical Stock Chart
From Apr 2023 to Apr 2024