EBay is rumoured to be buying a stake in e-commerce site ASOS, months after the clothing retailer issued a profit warning following a slowdown in its overseas expansion.
Shares in ASOS, which have fallen sharply in recent months following a warehouse fire and reduced margins, jumped on Wednesday after rumours began to circulate that a number of US firms including eBay are in the running to make a bid on the retailer, according to The Independent.
The majority stakeholder Bestseller, a Danish fashion company, has reportedly been approached by a number of prospective bidders.
Both eBay and ASOS were Read full story ›
Source: The Drum
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