Skype: eBay admits defeat

EBay last night announced plans to spin off Skype in an IPO next year, having failed to use the technology to boost auction sales.

In the wake of the news, a number of private equity firms are sniffing round the internet phone business, with original founders Janus Friis and Niklas Zennstrom leading the pack to repurchase the company. 

John Donahoe, the chief executive of eBay, says: “Skype is a great stand-alone business with strong fundamentals and accelerating momentum. But it is clear that Skype has limited synergies with eBay. We believe operating Skype as a stand-alone publicly traded company is the best path for maximising its potential.”

Read the full article on The Times.

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