Carl Icahn won't give up on nagging eBay over selling PayPal (among many other things), but a new suggestion demonstrates he might be backing down -- albeit slightly. The American business magnate published yet another open letter to eBay shareholders on Wednesday, outlining a scheme in which eBay sells off 20 percent of PayPal through an initial public offering.
As described by Icahn, the online marketplace conglomerate would then be able to keep the majority of PayPal. Icahn concluded by stressing he believes in the value of PayPal, but warned "it is on the verge of going to war against strong adversaries, and only with the benefits of being an independent company, as described above, will PayPal be capable of winning that war."
This new suggestion regarding the future of the digital payments brand is only the latest incursion between eBay and Icahn's investment group empire. The trouble with eBay started in January amid the company's fourth quarter earnings report. At the time, Icahn suggested (putting it mildly) that PayPal should be spun off. Ebay didn't agree.
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