NEW YORK: Activist investor Carl Icahn on Wednesday called on eBay Inc to sell 20% of its PayPal payments unit in an initial public offering, a change in tack from his previous call for a complete spinoff.
"Conducting a 20% IPO of PayPal - and creating two dedicated and highly-focused independent businesses - will provide the best opportunity for these businesses to remain competitive over the long-term," said Icahn, who owns more than 2% of eBay.
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