The share price of EBay rose after the information spreads that the company might revolve its payment section from next year.
According to the sources EBay one of the leading online market place is looking for the suitable candidate for their top position at the firm which indicates that the company is willing to spin off its section by next year.
Meanwhile according to a related person who requested anonymity informed that EBay is yet to look for the candidate of the chief of PayPal so far.
And after the news spreads the share price of EBay rose 4.7 percent and reached at $55.89 after the close of trading at the New York stock exchange while the firm gained 1.9 percent share price hike this year.
However it was earlier planned that the online giant will be making some spin off on their payment section.
And according to a statement from the EBay spokeswoman Amanda Miller, The EBay Inc. board and management team remain focused on maximizing shareholder value. As we discussed during proxy season and in our second-quarter financial results call, the board will continue to assess all alternatives to create that long-term value and to enhance the growth and competitive positions of both EBay and PayPal. This position has not changed.
The decision of spin off its payment division is rightly justified as EBay s PayPal is doing great business for the firm and it gained 20 percent revenue in the last financial quarter.