PayPal to become a sovereign entity?

Friday 22 August 2014 14:48 CET | News

eBay is currently taking into account a spinoff of its payments arm PayPal commencing in 2015, reports.

According to the same source, eBay has revealed this possibility to prospective candidates for the position of PayPal CEO during job interviews, a position left vacant since June 2014 after former PayPal CEO David Marcus said he was leaving for Facebook.

Amanda Miller, eBay spokeswoman, has informed that the current board members are to evaluate all possibilities for the creation of long-term value and to enhance the growth and competitive positions of both eBay and PayPal.

On the other hand, Carl Icahn, an active investor, has informed that while he supports a PayPal split in the near future, the time is not currently favourable.

Shares of the online retailer have recently jumped nearly 4% to USD 55.48.

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Keywords: US, eBay, PayPal, online payments, ecommerce, online sales, Customers, spinoff, separation, merchants
Categories: Payments & Commerce
Countries: World
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