EBay to Split PayPal Into Separate Company

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Frank Heinz, NBCDFW.com

Ebay and PayPal will be split into separately traded public companies by the middle of next year, CNBC reported. The move represents a reversal from eBay’s earlier resistance to a split despite pressure from activist investor Carl Icahn. "When you look forward, eBay will be less than 15 percent of Paypal's business three years from now and we can achieve many of the benefits of the synergies through arms-length commercial relationships." CEO John Donahoe told CNBC. He said he plans to step down as eBay CEO when the spin off takes effect in 2015.

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