United Kingdom, May 4 -- GameStop has announced a bid to buy eBay for $55.5 billion.

The long running video game retailer, which the largest of its kind worldwide, has confirmed it submitted a "non-binding proposal" to buy 100 percent of the e-commerce platform - which launched in 1995 and allows users to make sales via online auctions or "buy it now sales" - at $150 per share in cash and stock, at 50 percent each.

GameStop already owns around 5 percent of eBay's outstanding stock, having started buying stock in February this year.

Speaking to the Wall Street Journal, CEO Ryan Cohen said: "There is nobody who is more qualified, based on my experience, to run the eBay business.

"eBay should be worth - and will be worth - a lot more mon...