Online discount coupon provider Groupon Inc 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. 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. (on.wsj.com/1I86SE5)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, Inc. (Groupon) is a local e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount. Shares of GRPN remained unchanged at $7.30. In the past year, the shares have traded as low as $5.18 and as high as $11.21. On average, 13708500 shares of GRPN exchange hands on a given day and today's volume is recorded at 96818.
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