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Elliott urges eBay to restructure business to double market value

Elliott urges eBay to restructure business to double market value
The eBay app is seen on a mobile phone in this illustration photo October 16, 2017. REUTERS/Thomas White/Illustration   -   Copyright  THOMAS WHITE(Reuters)
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(Reuters) – EBay Inc <EBAY.O> shareholder Elliott Management Corp on Tuesday urged the e-commerce platform to restructure its business and sell some businesses to double its market value in the next two years.

Elliott, which owns a more than 4 percent stake in eBay, said the company could be valued at about $55-$63 per share in 2020.

The company’s shares were up 10.5 percent at $34.24 before the bell.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by Maju Samuel)

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