eBay Inc. Obtains European Central Bank Approval
By: eBay Staff
The approval marks the final step needed to complete our plan to create two dynamic, standalone public companies. We are excited about the significant opportunities that lie ahead for both eBay and PayPal, and their best is yet to come.
On July 13, John Donahoe provided the following note:
Earlier today, we learned that the European Central Bank (ECB) has officially approved the eBay-PayPal separation – the final approval we needed to complete our plan to create two dynamic, standalone public companies. The separation is on track to be completed on Friday, July 17 at 11:59 pm EST and PayPal’s stock will officially begin ‘regular way’ trading on the NASDAQ on Monday, July 20, 2015.
eBay and PayPal are two great businesses with extremely bright futures. As independent companies, their sharper focus and increased flexibility will improve their ability to pursue their respective market opportunities and strategic priorities. I am confident that eBay’s new CEO, Devin Wenig and PayPal’s new CEO, Dan Schulman-- and their respective management teams -- have the right strategies and operating structures in place to enable eBay and PayPal to deliver lasting shareholder value and unsurpassed user experiences for their customers around the world.
I want to thank the millions of customers who rely on eBay and PayPal every day, as well as our talented teams of employees for making the separation possible and giving eBay and PayPal two clear paths to success. I am proud of all that we have accomplished and am excited for the significant opportunities that lie ahead for both eBay and PayPal – their best is yet to come.