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EBay CEO says top shareholders agree PayPal should stay put

06
Mar
2014

By Phil Wahba and Nadia Damouni NEW YORK (Reuters) – EBay Inc CEO John Donahoe said on Wednesday that several of the online retailers most active shareholders have assured him they support his efforts to resist demands by activist investor Carl Icahn for a spin-off of the PayPal unit. Donahoe told Reuters on Wednesday he has spoken with as many as 16 of the 20 most-active shareholders in eBay, and most favored hanging on to the fast-growing PayPal payments unit. PayPal had become the preferred online payment method of the online marketplaces customers when eBay acquired it for $1.5 billion in 2002.

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