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Groupon in talks to sell stake in South Korea's Ticket Monster - WSJ
February 5, 2015 / 2:13 PM / 3 years ago

Groupon in talks to sell stake in South Korea's Ticket Monster - WSJ

(Reuters) - Online discount coupon provider Groupon Inc (GRPN.O) is in talks to sell a majority stake in its South Korean mobile e-commerce company, Ticket Monster Inc, the Wall Street Journal reported, citing people with knowledge of the matter.

People enter and leave Groupon Inc corporate office and headquarters in Chicago, Illinois, November 4, 2011. REUTERS/Frank Polich

Groupon, which bought Ticket Monster for $260 million in November 2013, has discussed a valuation of about $1 billion for South Korea’s second-largest mobile e-commerce company, the people said.

The deal could include a partnership under which Ticket Monster founder and Chief Executive Daniel Shin would continue to run the company with private-equity backing, the report said.

A deal could be completed by the end of March, it added.

Groupon’s shares were up 4.7 percent in premarket trading on Thursday. Up to Wednesday’s close the company’s stock had fallen more than 30 percent in the past 12 months.

Groupon could not be reached for comment.

Ticket Monster, whose biggest competitor is Coupang, has reported losses for the past four years and has been seeking investors.

Reporting by Kshitiz Goliya in Bengaluru; Editing by Ted Kerr

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