EBay founder rejects Icahn's call for PayPal spinoff

Fri Feb 28, 2014 3:05am IST

An eBay logo is projected onto white boxes in this illustration picture taken in Warsaw, January 21, 2014. REUTEwhite RS/Kacper Pempel/Files

An eBay logo is projected onto white boxes in this illustration picture taken in Warsaw, January 21, 2014. REUTEwhite RS/Kacper Pempel/Files

Related Topics

Stocks

   

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)

FILED UNDER:

Sony Cyber Attack

REUTERS SHOWCASE

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Economic Pulse

Economic Pulse

Crank up public spending to revive growth - chief economic adviser.  Full Article 

PM's Moves

PM's Moves

Modi moves in to speed up $300 billion stuck projects.  Full Article 

Going International

Going International

Bollywood’s Priyanka Chopra sets sights on American TV.  Full Article 

Cook Out

Cook Out

Cook out, Morgan in as England ODI captain - reports.  Full Article 

Sony Cyberattack

Sony Cyberattack

Obama vows U.S. response to North Korea over Sony cyberattack.  Full Article 

Obama's Message

Obama's Message

Obama's year-end message to Americans: I'm not a lame duck.  Pictures 

India This Week

India This Week

Some of our best photos from this week.   Full Coverage 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device   Full Coverage