EBay has announced that it will separate PayPal into its own business. Next year, eBay and PayPal will be independent publicly-traded companies, Fortune reports.
Activist investor Carl Icahn advocated for the separation in January. The tax-free spinoff will be completed in late 2015.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
The Sticky: a 'beautifully unhinged' crime caperThe Week Recommends Bingeworthy Amazon Prime series puts 'Fargo-like spin' on the tale of Canada's real-life maple-syrup heist
-
'Libel and lies': Benjamin Netanyahu's corruption trialThe Explainer Israeli PM takes the stand on charges his supporters say are cooked up by a 'liberal deep state'
-
The hidden cost of lead exposure on American mental healthUnder The Radar Millions of mental health diagnoses have been linked to childhood lead exposure in new study
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstancesSpeed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governorSpeed Read
-
Los Angeles city workers stage 1-day walkout over labor conditionsSpeed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billionSpeed Read
-
Bangladesh dealing with worst dengue fever outbreak on recordSpeed Read
-
Glacial outburst flooding in Juneau destroys homesSpeed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creatureSpeed Read
