EBay follows Icahn's advice, plans PayPal spinoff in 2015

http://ift.tt/eA8V8J EBay's shares rose as much as 8 percent after the company said it would spin off PayPal as a publicly traded company in the second half of 2015, a transaction that will be tax-free to shareholders. EBay Chief Executive John Donahoe had previously resisted Icahn's proposal, saying PayPal was integral to eBay's business, and vice versa. Icahn, eBay's sixth-largest shareholder with a 2.48 percent stake as of June 30, backed off from his demand in April.



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