By Svea Herbst-Bayliss
July 17 (Reuters) - Videogame retailer GameStop owns nearly 10% of e-commerce company eBay, the company said in a regulatory filing late on Friday, signaling its intent to push ahead with plans to buy eBay even after its unsolicited offer was rejected.
GameStop said it owns 43.4 million outstanding shares of eBay, or 9.8%, marking a dramatic increase in ownership from early May when GameStop CEO Ryan Cohen told eBay's board chairman it wanted to buy the company for roughly $56 billion.
At that time he said GameStop had "accumulated a 5% economic stake" through derivatives and beneficial ownership.
Over the last weeks GameStop turned its economic stake into common shares. Last month it bought 3.5 million eBay shares for roughly $381 million and on Friday it settled 39 million eBay shares from put/call pairs, the filing said.
July 17 (Reuters) - Videogame retailer GameStop owns nearly 10% of e-commerce company eBay, the company said in a regulatory filing late on Friday, signaling its intent to push ahead with plans to buy eBay even after its unsolicited offer was rejected.
GameStop said it owns 43.4 million outstanding shares of eBay, or 9.8%, marking a dramatic increase in ownership from early May when GameStop CEO Ryan Cohen told eBay's board chairman it wanted to buy the company for roughly $56 billion.
At that time he said GameStop had "accumulated a 5% economic stake" through derivatives and beneficial ownership.
Over the last weeks GameStop turned its economic stake into common shares. Last month it bought 3.5 million eBay shares for roughly $381 million and on Friday it settled 39 million eBay shares from put/call pairs, the filing said.
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