Icahn calls on eBay to sell 20 percent of PayPal in an IPO

(Reuters) - Activist investor Carl Icahn on Wednesday called on eBay Inc to sell 20 percent of its PayPal payments unit in an initial public offering. Selling the stake would allow for the benefits of a stand-alone PayPal and maintain the synergies between eBay and PayPal, Icahn wrote in an open letter to fellow eBay shareholders. Icahn in January called for eBay to hive off its fast growing PayPal business.

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