EBay founder rejects Icahn's call for PayPal spinoff
(Reuters) - EBay Inc 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)
- Obama makes rare campaign trail appearance, people leave early
- Turkey to let Iraqi Kurds reinforce Kobani as U.S. drops arms to defenders |
- Obama makes rare campaign trail appearance, some leave early
- Nigeria declared Ebola-free, holds lessons for others |
- U.S. stocks end higher despite drag from IBM