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eBay Adds More International Sites

Auction giant eBay Inc. , continuing its international expansion, has launched three new local sites for users in Ireland, Switzerland and New Zealand.

All three country sites are charging listing and final value fees and are are extensions of larger platforms (UK, Australia and Germany), according to investment analysts at Goldman, Sachs.

GS advised its clients today that "we do not expect significant near-term impact on revenues from this expansion."

eBay has been making a strong effort to go global, and recently purchased Paris-based online auction company iBazar S.A. in a stock deal valued at about $100 million.

iBazar claims 2.4 million registered users across the eight countries in which it operates -- France, Italy, Spain, Portugal, Sweden, the Netherlands, Belgium, and Brazil.

Citing figures from Forrester Research, GS said that Ireland is estimated to represent approximately 0.7 percent of total Western European e-commerce (B2C and B2B) in 2001 while Switzerland is estimated to represent 4.9 percent. New Zealand is estimated to represent approximately 1.4 percent of total Asia Pacific e-commerce.

GS said it expects international revenue to contribute about $9 million to eBay for the first quarter of this year. "We continue to believe that eBay will have a strong first quarter, delivering revenue of $160-plus million and likely upside to earnings per share," GS analysts said.

"We continue to believe eBay is a core Internet holding with a US Recommended List rating," GS said. eBay closed Tuesday at $38.43.