eBay and MercadoLibre. com, a leading Latin American online trading site, have entered into a strategic business relationship. MercadoLibre will acquire iBazar Com Ltda., the Brazilian subsidiary of iBazar SA, which was recently acquired by eBay. In return eBay will receive a 19.5% ownership interest in MercadoLibre and "will share best practices with the company." iBazar currently has more than 450,000 registered users in Brazil who list more than 70,000 items for sale each month. MercadoLibre. com currently operates in 10 countries: Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Uruguay, Spain, the United States and Venezuela. Terms of the agreement were not disclosed.