Internet

eBay China to form joint venture with TOM?

Chinese IT blogstar Keso has published an email (in English) from one of his readers that includes what are apparently draft press releases that have not yet been released.

The basic content of the email is that eBay and TOM are going to form a joint venture owned 49% by eBay and 51% by TOM. In addition PayPal China is going to invest 105 million US dollars in UMPay. Keso's reader email also claims that Solina Chou, a big shot at TOM, is a primary investor in UMPay, along with Winston Wen, whose father is "Wen XX".

The whole thing is here.

UPDATE: The Financial Times also has a source at eBay, "a person familiar with the matter" who confirms the above: eBay to shut down its China site. But still no confirmation from eBay itself; the FT article says:

An Ebay spokesperson at its Silicon Valley headquarters on Monday refused to comment on what he described as speculation.
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