Elon Musk Sides with Carl Icahn on eBay (EBAY) PayPal Split

February 12, 2014 3:39 PM EST
eBay, Inc. (NASDAQ: EBAY) is modestly higher Wednesday as Tesla (NASDAQ: TSLA) CEO Elon Musk is siding with Carl Icahn on a spinoff of PayPal. Importantly, Musk was one of the cofounders of the payment service.

In a Forbes cover story, Musk is quoted as saying, "It doesn't make sense that a global payment system is a subsidiary of an auction website. It's as if Target owned Visa or something." PayPal, he adds, "will get cut to pieces by Amazon Payments, or by others like Apple and by startups if it continues to be part of eBay."

The full Forbes story can be found here

Shares of eBay last traded at $54.67, up 0.7%.

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