Ebay, the US online auction group, yesterday agreed to unload 65 per cent of its Skype internet calling service to a group of private investors for $2bn in cash and debt. The deal brings down the curtain on a strategic mistake that clouded the final years at the company of Meg Whitman, Ebay's former chief executive.
Ebay said it would receive $1.9bn in cash and a $125m debt instrument from the buyers, ending its plan for an initial public offering of Skype.
Skype is set to be one of the biggest and fastest-growing private internet groups. It had revenues last year of $551m, up 44 per cent from the previous year, while registered users expanded by 47 per cent, to 405m.
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