Are eBay and PayPal better together? Icahn says no

EBay is addressing a move by activist investor Carl Icahn to spin off PayPal by issuing what amounts to a love letter to shareholders, extolling the virtues of the symbiotic relationship.

In "PayPal and eBay—Better Together," the retailer states: "Payments is an integral part of commerce. Technology, led by mobile, is creating a convergence of payments and commerce capabilities across our industry. eBay Inc. is a leader in this evolving competitive environment. And since its acquisition in 2002, PayPal has thrived as part of eBay Inc., becoming a global leader in digital payments." Story