Groupon In Talks To Divest Majority Of $1 Billion Stake In South Korean Subsidiary

Groupon Inc (NASDAQ: GRPN) is in talks with KKR and South Korean conglomerates to sell a majority stake in Ticket Monster, South Korea’s largest mobile commerce company, according to Dow Jones reports.

At a $1 billion valuation, Groupon’s stake in Ticket Monster would represent 20 percent of its market cap at Wednesday's closing price of $7.30. Groupon purchased Ticket Monster from competitor LivingSocial for $260 million just a year ago.

Groupon’s shares have dropped 30 percent over the past year, though prices are up from a mid-2012 low below $3.

Shares were up 1.7 percent in Thursday's premarket.