Wednesday, December 20, 2006

TomBay update

More on the eBay/Tom Group rumours from Bloomberg: this story suggests that eBay will close its China site and pay Li Ka Shing's Tom Group $40 million for a 49% stake in a new venture. Sounds like roll over and play dead to me. I'll bet Meg Whitman wishes she hadn't bothered to spend that summer in China now -- there are easier places to spend your holidays.

Update: More on this at the FT which carries the same numbers and a good backgrounder on the story.

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