eBay rejects GameStop’s nearly $56 billion offer

(CNN, KYMA) - GameStop's desire to create an Amazon rival appears to be at a dead end for now as eBay is rejecting GameStop's offer to buy it.

That's according a letter from its board chairman, Paul Pressler, to GameStop CEO Ryan Cohen. The document calls the $55.5 billion proposal "neither credible nor attractive."

It says the funding strategy is uncertain.

GameStop, who is about a quarter the size of eBay, did not immediately return a request for comment.