EBay Considering PayPal Spinoff, Report Claims

Thursday, 21 Aug 2014 01:44 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
EBay Inc. is considering a spinoff of PayPal, its fast-growing payments unit, as soon as next year, tech news website The Information reported, citing sources.

Shares of the online retailer jumped nearly 4 percent to $55.48 at midday.

EBay told potential candidates for the position of PayPal chief executive officer, a post that David Marcus vacated in June, about a possible spinoff of the payments unit, the website reported. Marcus is now a Facebook Inc. executive.

A PayPal spinoff would mark an about-face for the company. EBay CEO John Donahoe has resisted demands by activist investor Carl Icahn to hive off the payments service, saying PayPal was integral to eBay's business — and vice versa — and a split would not make sense.

"The board will continue to assess all alternatives to create that long-term value and to enhance the growth and competitive positions of both eBay and PayPal. This position has not changed," eBay spokeswoman Amanda Miller said.

Whether eBay has decided to spin off all or part of PayPal, and what structure that could take, remained unclear, The Information reported.

Icahn eventually backed off from his demand in April, saying that while he supported a PayPal split in the near future, now was not the time. Some investors, however, feel an independent PayPal can grow by attracting online retailers wary of rival eBay.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

REFILE-Efforts to Replace Fed Hawks Plosser, Fisher Pick up Speed

Thursday, 30 Oct 2014 14:04 PM

 . . .

Neal Asbury: Thank Obamacare for Driving Older Americans to the GOP

Thursday, 30 Oct 2014 13:20 PM

With the advent of the Affordable Care Act, the initial feeling was that older adults would embrace Obamacare and thank  . . .

Axel Merk: Greenspan Predicts 'Price of Gold Will Rise'

Thursday, 30 Oct 2014 13:14 PM

Any doubts about why I own gold as an investment were dispelled last Saturday when I met the maestro himself: former Fed . . .

Most Commented
Top Stories

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved