Groupon in Talks to Divest Majority of $1bln Stake in South Korean Subsidiary

Groupon Inc 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% of its market cap at yesterday’s closing price of $7.30. Groupon purchased Ticket Monster from competitor LivingSocial for $260 million just a year ago.

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