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EBay founder rejects Icahn’s call for PayPal spinoff

27
Feb
2014

(Reuters) – EBay Inc founder and Chairman Pierre Omidyar rejected investor Carl Icahns call to separate the companys 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 giant 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.

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