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Icahn exits eBay stake, opts for PayPal after spinoff

NEW YORK Billionaire romantic financier Carl Icahn substituted his whole equity interest in eBay Inc (EBAY.O) for a same series of shares in PayPal Holdings Inc in a third quarter, regulatory filings showed on Monday.

The filings with a Securities and Exchange Commission showed that Icahn sole his interest of 46.3 million shares in eBay and reported a same series of shares in PayPal (PYPL.O), that finished a spinoff from eBay in mid-July.

Icahn, whose PayPal interest as of Sept. 30 amounted to 3.8 percent of a company, had pushed for eBay to spin off PayPal final year and has house illustration during PayPal by Icahn Capital handling executive Jonathan Christodoro.

Icahn eventually corroborated off from his pull for a spinoff in Apr of final year. But eBay directors and executives shifted their position on a separate in Jun of final year after a six-month inner investigate of a payments landscape.

Icahn, who is famous for holding vast stakes in companies and pulling for government change, also showed that he took a 1.36 million share interest in American International Group Inc (AIG.N) during a third quarter, forward of publicly pressuring a insurer to separate into 3 companies.

In a minute to AIG CEO Peter Hancock in late October, Icahn bloody AIG as “too large to succeed,” a riff on a renouned “too large to fail” word that emerged from a financial crisis.

The distance of Icahn’s AIG position had not been formerly disclosed, and Icahn might have increasing a interest by a time he tweeted that he owned a “large” position in a association on Oct. 28.

Icahn was not immediately accessible for comment.

(Reporting by Sam Forgione; modifying by Jennifer Ablan and Christian Plumb)

Article source: http://in.reuters.com/article/2015/11/17/us-investments-funds-icahn-idINKCN0T52SP20151117

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