Ebay To Spin Off Paypal

EBay has unveiled a plan to separate the company’s namesake company and its PayPal business, creating two independent publicly-traded companies next year — a separation that activist investor Carl Icahn called for earlier this year. The move, which is expected to result in a tax-free spin off to be completed in the second half of 2015, will allow the separated businesses to focus more on their distinct core competencies: e-commerce and payments.

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