UK watchdog clears Ebay, Depop merger

The UK’s Competition and Markets Authority (CMA) has cleared the anticipated acquisition by Ebay of Depop Limited.

The formal review into the merger launched in June, at which time the regulator said it was looking to determine the “impact the transaction could have on competition in the UK”.

Its process involved an information-gathering period and an invitation for interested parties to comment on the proposed transaction, with the inquiry initially set to run until August 6. The CMA has now decided not to move forward with an in-depth phase two probe.

The announcement came months after Ebay revealed plans to takeover its smaller counterpart earlier this year, in a deal valued at 1.2 billion dollars.

Ebay’s chief executive, Jamie Ianonne, said: “Depop has built a trusted, social-forward marketplace with strong momentum in the pre-loved fashion category, and we are confident that as part of Ebay, Depop will be even more well-positioned for long-term growth, benefiting from our scale, complementary offerings, and operational capabilities.”