Devin Wenig, CEO of eBay at the 2018 WEF in Davos, Switzerland.

Adam Galica | CNBC

EBay is moving forward with a potential sale of ticket-exchange company StubHub, sources told CNBC’s David Faber.

The sources said eBay is still early in the process, but note there are “multiple” parties interested in buying StubHub.

Shares of eBay jumped 2.8% on the news. The stock has been on a tear this year, rallying more than 45%. It is also outperforming the S&P 500, which is up 19% in 2019.

The news comes after eBay announced a strategic portfolio review on March 1.

The company has been under activist pressure this year after Elliott Management took a $1.4 billion stake in eBay. Starboard Value, another activist investor, has also taken a stake in the company.

EBay declined to comment. The company is scheduled to report quarterly earnings after the close Wednesday.

Products You May Like

Articles You May Like

Cisco drops on poor guidance, says China business dropped 25%
Is WeWork a good bet?
Trump called the CEOs of the biggest US banks on Wednesday as the stock market plunged
The stock market’s unusual pattern this week has historically been a big sell signal
A move by the super rich: Here’s why Jeffrey Epstein likely paid little in the way of taxes

Leave a Reply

Your email address will not be published. Required fields are marked *