eBay, Sanook to launch e-commerce site in Thailand

NEW YORK (Reuters) - Web auction leader eBay Inc. said on Monday it has agreed with Sanook, a Thai online portal, to launch a Web site in the country that will enable cross-border trade through eBay's global Web sites.

The Thai-language local site is expected to launch in about five to seven months and will be managed and operated under a newly formed subsidiary of Sanook.

Sanook.com is a subsidiary of MIH Group, a wholly owned subsidiary of Africa's biggest media company, Naspers Ltd.