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EBay asks shareholders to veto Icahn’s PayPal spin-off proposal


(Reuters) – EBay Inc urged its shareholders to vote against activist investor Carl Icahns proposal to spin off the e-commerce companys PayPal payments unit. Last week, Icahn asked eBay to sell 20 percent of the PayPal payments unit in an initial public offering, a change in tack from his previous call for a complete spin off. Our shareholders and our customers are best served by keeping PayPal and eBay together, eBays board said in a letter to shareholders.

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