Cooperman Backs Icahn On eBay

Mar 12 2014 | 11:17am ET

Critics of Carl Icahn's campaign against eBay Inc. have been legion. Supporters have been few. But another prominent hedge fund manager has joined the latter contingent.

Omega Advisors founder Leon Cooperman said he agreed with Icahn that eBay should spin-off its PayPal unit.

"I give Carl a lot of credit for taking the time and showing the energy, and in this case, we happen to agree with him," Cooperman told CNBC. "I think they should spin out a portion of PayPal."

Omega, like Icahn, is an eBay investor.

Icahn has lambasted eBay's corporate governance, accusing two prominent directors of having conflicts of interest and alleging that the company sold Skype for too little. He has pledged a proxy battle with the company, seeking to have two of his representatives join the board.


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