Icahn Says EBay Should Pursue PayPal Sale Now in Spin Dual Track
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Billionaire activist investor Carl Icahn said EBay Inc. should pursue an outright sale of its PayPal unit while progressing on a plan to separate the payments business from its online marketplace.
Icahn, whose investment fund Icahn Associates Corp. owns 2.5 percent of EBay’s shares, described PayPal as a “jewel” -- a dominant player with online merchants facing heightening competition from new rivals such as Apple Inc.’s Apple Pay.