According to Shanghai Daily by way of another news outlet, “Hong Kong-listed Tom.com is going to announce its takeover of eBay’s China division and its PayPal service.”
It was less than a year ago that I wrote Is eBay Losing China?
But I’m going to wait and see as more media outlets weigh in to clarify things. I suspect that eBay is looking for a strong local partner to take over things rather than let go completely.
However, either way, you have to hand it to Yahoo! for not only beating eBay in Japan but in leading the way strategically in China.
PS: Here’s another report on the story.