From Guardian Unlimited:
When it emerged earlier this week that eBay was preparing to close down its Chinese operation, few observers were wholly surprised.
After several years of underperforming results in the auction giant’s business in the country, press reports suggest that the company is planning a three-way split of its Chinese enterprise. Instead of taking on its competitors head first, eBay is instead expected to pump $40m (¬£20.3m) into a new venture with Tom Group, the internet portal run by Hong Kong billionaire Li Ka Shing.[Full Text]