Subscribe free to our newsletters via your
. Medical and Hospital News .




INTERNET SPACE
Icahn takes eBay stake, seeks PayPal spinoff
by Staff Writers
San Francisco (AFP) Jan 22, 2014


EBay said Wednesday that activist investor Carl Icahn had taken a stake in the online retailer and was seeking a spinoff of its PayPal financial payments unit.

In the company's quarterly earnings report, eBay said Icahn and his affiliated companies this month "acquired shares and derivative securities that give him an economic interest of approximately 0.82 percent in the company."

Icahn, a billionaire known for taking stakes in companies to force changes or pay dividends to shareholders, has nominated two of his employees to eBay's board "and submitted a non-binding proposal for a spinoff of its PayPal business into a separate company," said an eBay statement.

The California-based group said it "welcomes the opportunity to listen to the perspective of all of its shareholders, including Mr Icahn" and that the nominations will be passed on to the board's appropriate committees.

But the statement also said: "We would note that eBay has a world-class board of directors with directors who have significant experience in technology and financial services."

It said eBay's board "routinely assesses the company's strategic direction and has explored in depth a spinoff or separation of PayPal" and added that the board "does not believe that breaking up the company is the best way to maximize shareholder value."

The PayPal unit enables people to make purchases on eBay without a credit card. In recent years it has developed other payment systems, including for mobile devices.

EBay said its profit in the fourth quarter rose 13 percent from a year earlier to $850 million, topping most forecasts. The annual profit for 2013 was up nine percent at $2.9 billion.

Icahn earlier Wednesday said he has invested some $3 billion in Apple, and claimed the tech giant is "doing a disservice to shareholders" by not increasing its share buyback.

.


Related Links
Satellite-based Internet technologies






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








INTERNET SPACE
China Internet breakdown blamed on Web address "hijacking"
San Francisco (AFP) Jan 23, 2014
A firm specializing in censorship-evading technology on Wednesday blamed a massive breakdown of China's Internet on website address "hijacking" tools used by authorities there. "In 2002, China started to use DNS hijacking technology to block web sites," said US-based Dynamic Internet Technology, which runs a tool called FreeGate designed to bypass Chinese Internet censors. "On January 2 ... read more


INTERNET SPACE
Mayor of scandal-hit Italy quake town withdraws resignation

UK charity expands Philippine anti-trafficking work

Tornadoes, flood, drought cost US billions in 2013

Funding Problems Threaten US Disaster Preparedness

INTERNET SPACE
India to launch three navigation satellites this year

NGC Wins Contract For GPS-Challenged Navigation and Geo-Registration Solution

20th Anniversary of Initial Operational Capability of the GPS Constellation

Northrop Grumman and Trex Enterprises to Introduce Celestial Navigation to Soldier Precision Targeting Laser Systems

INTERNET SPACE
Putting 'Adam' in his rightful place in evolutionary history

Calcium absorption not the cause of evolution of milk digestion in Europeans

Discovery of quantum vibrations in 'microtubules' corroborates theory of consciousness

Study: Chimps can use gestures to achieve specific goals cooperatively

INTERNET SPACE
A 21st century adaptation of the Miller-Urey origin of life experiments

UM Study Finds Wolf Predation of Cattle Affects Calf Weight in Montana

Hong Kong to destroy almost 30 tonnes of ivory

Frog's love call beckons predators, too

INTERNET SPACE
China announces H7N9 bird flu deaths: Xinhua

Typhoid Fever - A race against time

Nigeria, Pakistan could delay polio-free goal: Gates

Gold nanoparticles help to develop a new method for tracking viruses

INTERNET SPACE
Two China anti-graft activists put on trial: lawyers

'China Leaks' -- a new coup for journalists group ICIJ

HK employer charged with attacking Indonesian maids

Beijing's 'rat tribe' scurry from high costs underground

INTERNET SPACE
French navy arrests pirates suspected of oil tanker attack

Mexican vigilantes accuse army of killing four

Gunmen kill two soldiers in troubled Mexican state

China smugglers dig tunnel into Hong Kong: media

INTERNET SPACE
Major default looms in China's huge 'shadow banking' system

Default on $500 mn Chinese investment scheme 'averted'

Fear of China 'hard landing' stalks Davos

Billionaire bashed for putting rich-haters on par with Nazis




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement