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Icahn escalates push for eBay, PayPal split

26
Feb
2014

Billionaire investor Carl Icahn increased pressure on eBay Inc to separate from its payments business PayPal on Wednesday and called corporate governance at the e-commerce giant dysfunctional. The activist investor, who disclosed a 2.15 percent stake in the e-commerce giant on Monday, also promised to lay out a more detailed case for spinning off fast-growing PayPal in coming weeks. We believe corporate governance at eBay is dysfunctional. Lets end this charade, Icahn said in a letter to eBay shareholders. Icahn said in a letter to shareholders on Monday that two longtime board members, Marc Andreessen and Scott Cook, had business interests that directly competed with eBay.

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