(Reuters) – Online discount coupon provider Groupon Inc (GRPN.O: Quote, Profile,Research, Stock Buzz) is in talks to sell a majority stake in its South Korean mobile e-commerce company, Ticket Monster Inc, the Wall Street Journal reported, according to Reuters News.
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.
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