EBay founder rejects Icahn's call for PayPal spinoff
REUTERS - EBay Inc (EBAY.O) founder and Chairman Pierre Omidyar rejected investor Carl Icahn's call to separate the company's fast-growing PayPal payments unit, saying the businesses were better off together.
Omidyar, who is the largest shareholder in eBay with a stake of 8.37 percent, said separating PayPal from eBay was not a new idea and the board had evaluated the option but decided to keep the businesses together.
Icahn, who disclosed a 2.15 percent stake in the e-commerce company last week, had also accused two long-time eBay board members, Marc Andreessen and Scott Cook, of having business interests that directly competed with eBay.
"Instead of having an honest discussion about a reasonable question, Mr. Icahn has chosen to attack the integrity of two highly respected and qualified board members, Scott Cook and Marc Andreessen," Omidyar said in a statement.
(Reporting by Supantha Mukherjee in Bangalore; Editing by Kirti Pandey)
- Tweet this
- Share this
- Digg this
- Boxer Sarita Devi faces action after refusing medal at Asian Games
- New NATO leader offers olive branch to Russia
- Brookfield wins Revel Casino auction, but loser vows to fight
- Billionaire Detroit business leader says "blight is like a cancer"
- CANADA STOCKS-TSX fall gets deeper as financial, energy shares drag
Microsoft Corp announced its 'Windows 10' operating system on Tuesday to replace the largely unpopular Windows 8, skipping a number to mark a leap toward unifying the way people work on tablets, phones and traditional computers. Full Article