PayPal-eBay on track for split; PayPal trading stock next week
Big news on the Paypal/Ebay front. Exciting time in the FinTech space. Ferhan Patel ----------------------------------------------------------------------------- PayPal and eBay are set to go their separate ways this week. The online retail giant issued a brief update about the separation on Monday after obtaining approval for the split from the European Central Bank. Thus, the separation is on track to be completed on Friday, July 17 at 11:59 PM ET. PayPal will begin trading standalone stock next Monday, July 20 with an estimated $45 opening target price, according to MarketWatch. EBay confirmed plans to spin of its mobile payments subsidiary into a separate publicly traded company last September following months of speculation -- much of which came as a result of some very public criticism from shareholder and prominent financier Carl Icahn. PayPal has since made a number of public announcements and moves to strengthen its brand in the eyes of both share