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EBay In Talks With Multiple Parties For Sale Of Classifieds Group

eBay Inc. (EBAY) announced Friday that it continues to be in talks with multiple parties regarding a potential transaction for its eBay's Classifieds Group.

The company expects to provide an update regarding the process by the middle of the year. eBay said that it remains committed to maximizing the value of Classifieds for eBay shareholders.

"EBay's Board and management are committed to driving significant returns to shareholders by maximizing the value of Classifieds and positioning our Marketplace business for long-term success," interim Chief Executive Officer Scott Schenkel said in a statement. "We are acting with urgency while focusing on the ultimate objective of maximizing the value of Classifieds."

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