Stock Talk’s Technical Trade Outlook for Thursday October 22nd, 2009 are: AMZN, AXP, AAPL, ATT, EBAY
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Stock Talk – October 22, 2009
October 22, 2009
Private investors pay US$2B for eBay’s 65% stake in Skype
September 2, 2009
Yesterday eBay agreed to sell a 65% stake in its Skype Internet calling service, bringing closure to a deal that was viewed as the Internet auction company’s biggest strategic mistake. The sale to a group of private investors, in return for US1.9B in cash and a US$125M debt instrument, marks the reversal of an ambitious 2005 push into online communications that came to cloud the final years at the company of Meg Whitman, its former chief executive. The transaction will cut loose one of the biggest and fastest-growing private Internet businesses. With US$551M of revenues last year and 405MM registered users, Skype’s global reach has made it one of the best-known consumer brands, and its free computer-to-computer calls have had a disruptive effect on traditional telephone companies. Read more
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