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Omega's Cooperman says eBay should spin off portion of PayPal-CNBC
March 10, 2014 / 4:45 PM / 4 years ago

Omega's Cooperman says eBay should spin off portion of PayPal-CNBC

NEW YORK, March 10 (Reuters) - Leon Cooperman, chief executive of hedge fund Omega Advisors, said Monday that he agreed with activist investor Carl Icahn’s push for eBay Inc to spin off PayPal.

“I give Carl a lot of credit for taking the time and showing the energy, and in this case, we happen to agree with him,” Cooperman, an eBay shareholder, told CNBC television. “I think they should spin out a portion of PayPal,” he added.

Icahn, who owns just over 2 percent of the e-commerce company, has been pressuring eBay for weeks to spin off its PayPal online payments business. The billionaire investor has repeatedly accused eBay of poor corporate governance.

Cooperman also said that the U.S. stock market was fairly valued at its current levels and would be surprised if it rallied further.

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