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Yahoo concedes Europe auctions to eBay

Daniel Fleshbourne Administrator Neowin @dfleshbourne · May 23, 2002 05:10 EDT with -1 comments

Thanks neo1980 from our BPN Forum

Yahoo will close five of its auction sites in Europe and instead promote eBay's competing auctions as part of an agreement the companies announced on Wednesday.

Within the next several weeks, Yahoo will stop accepting new listings for its auction sites serving France, Germany, Italy and Spain. Additionally, it will close its auction site that serves the United Kingdom and Ireland. The company will promote eBay's sites for each of those countries via banner ads and text links.

"This is an outstanding move for Yahoo Europe, both strategically and financially," Mark Opzoomer, managing director of Yahoo Europe, said in a statement. "We will be able to better utilize our resources to more effectively focus on initiatives where we can extend our leadership position and that will drive long-term growth for the company."

News source: C|NET