The sale of the classifieds business was expected to fetch more than $8 billion, according to Bloomberg News. Prosus is competing against a private equity consortium – backed by Blackstone Group, Permira and Hellman & Friedman – and a separate proposal from Norwegian online marketplace Adevinta. READ: Financial insecurity a bigger concern for SA consumers than being infected with Covid-19The EBay classifieds business includes a number of online marketplaces separate from the company’s eponymous auction platform. Representatives for Adevinta, EBay, Prosus and the private equity bidders declined to comment. EBay said in February it was in active talks with multiple parties about a potential deal for its classifieds business as it responded to pressure from activist investors to focus on its main online marketplace.

Source: News 24 July 17, 2020 12:00 UTC