Skype: Taking Junk Public

eBay (Nasdaq: EBAY) announced that it would do an IPO of its Skype internet phone business. According to eBay’s CEO John Donahoe, “Skype is a great stand-alone business with strong fundamentals and accelerating momentum. But it’s clear that Skype has limited synergies with eBay and PayPal.” Put another way, the business does not have enough economic value for us to keep it, we can’t find a buyer at any reasonable price, so we want to dump Skype on the market by focusing on its very small number of strengths.

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