eBay (EBAY) Higher After Successful Skype Sale
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eBay Inc. (Nasdaq: EBAY) is up 2.7% after announcing a deal to sell Skype in a deal that values the unit at $2.75 billion. This was better than the $2 billion the company was expecting.
eBay will receive approximately $1.9 billion in cash upon the completion of the sale and a note from the buyer in the principal amount of $125 million and will retain an approximately 35% equity investment in Skype.
The buyer, who will control an approximately 65% stake, is an investor group led by Silver Lake and includes Index Ventures, Andreessen Horowitz and the Canada Pension Plan (CPP) Investment Board.
eBay acquired Skype in 2005 for $2.6 billion in cash and stock.
eBay will receive approximately $1.9 billion in cash upon the completion of the sale and a note from the buyer in the principal amount of $125 million and will retain an approximately 35% equity investment in Skype.
The buyer, who will control an approximately 65% stake, is an investor group led by Silver Lake and includes Index Ventures, Andreessen Horowitz and the Canada Pension Plan (CPP) Investment Board.
eBay acquired Skype in 2005 for $2.6 billion in cash and stock.
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