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Ebay rejects Icahn proposal for PayPal spin-off

2014-01-23 09:24:00| Telecompaper Headlines

(Telecompaper) Activist investor Carl Icahn has taken a 0.82 percent stake in eBay and proposed the company spin off its PayPal business. Icahn also proposed two of his employees to Ebay's board of directors. Ebay said it would consider the board nominations, but rejected the proposal to spin off PayPal. The company said its board had already explored a spin-off or separation of PayPal in detail, but concluded a break-up of the group was not the best strategy. As part of the group, PayPal is able to leverage the company's technology capabilities, commerce platforms and relationships with retailers, brands and large merchants worldwide, eBay said. "Payment is part of commerce, and as part of eBay, PayPal drives commerce innovation in payments at global scale," the company added.

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Hedge fund Third Point calls for Dow to consider spin-off of petrochemicals

2014-01-22 01:29:00| Canadian Plastics Headlines

Hedge fund Third Point LLC has taken a stake in Dow Chemical and urged management to evaluate a spinoff of its petrochemical operations.

Tags: of point calls fund

Fukushima's operator says spin-off an option only for the future

2014-01-18 12:33:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: Spinning off the clean-up project at Japan's wrecked Fukushima nuclear plant from the rest of operator Tokyo Electric Power's business could be an option in the future if the decommissioning runs smoothly, the company's president said. Nearly three years after a devastating earthquake and tsunami hit the plant, Tokyo Electric (Tepco) is still struggling to contain radioactive water at the site and turn around its battered finances. "Paying compensation (to evacuees), decontamination, and the...

Tags: the future option operator

Liberty Global considers VTR spin-off

2014-01-13 15:21:00| Telecompaper Headlines

(Telecompaper) Liberty Global is considering a spin-off of its Latin American activities. Its main assets there are 80 percent in the Chile cable and mobile operator VTR and 60 percent of a cable network in Puerto Rico. The company made the announcement in the prospectus of a bond offering by VTR. The group is spinning off VTR's financing operations into a new company, separate from its main European holding company, UPC. As part of this, VTR will issue USD 1.4 billion in notes due 2022 and 2024 in order to pay off UPC credit facilities. Liberty Global said the spin-off of the Latin American operations could take the form of issuing shares in the new company to existing Liberty shareholders. However, the proposal is still at an early stage and no final decision has been taken yet.

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