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EBay moves forward with potential StubHub sale: Sources

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EBay moves forward with potential StubHub sale: Sources

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.

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