Title | Ebay to Spin Off PayPal | |
Date | Wednesday October 01 2014, @12:55AM | |
Author | n1 | |
Topic | ||
from the finding-new-ways-to-make-you-pay dept. |
EBay said on Tuesday that it would spin off its PayPal payments unit into a separate publicly traded company, taking a step the activist hedge fund magnate Carl C. Icahn first demanded nine months ago.
The move will cleave eBay almost in half, separating it from the payments processor it acquired 12 years ago and built into a giant that generates almost half of the company’s revenue.
The spinoff is expected to be completed in the second half of 2015.
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printed from SoylentNews, Ebay to Spin Off PayPal on 2024-03-29 04:34:56