eBay wants to sell stake in Free Market

EBay announced that it plans to sell most of its shares on the open market. The Free Market, based in Argentina, had dealings with eBay since 2001, when the company purchased iBazar, the brazilian subsidiary of the European site iBazar SA. In Exchange, eBay received a stake of 19.5% in the free market, a commitment to share strategic knowledge with the company. "The sale of the free market will enable us to have a significant gain in our investment, and we intend to use these liquid resources in a manner consistent with our capital allocation strategy," said eBay in official statement.