Billionaire investor Carl Icahn fired off another letter to eBay shareholders and again reiterated that director Marc Andreessen had too many conflicts during the Skype sale.
Icahn and Andreessen have been volleying posts and letters in recent days. Icahn's beef is that Andreessen couldn't have been able to recuse himself from eBay deliberations over what to do with Skype. eBay acquired Skype in 2005 for $2.5 billion, said in 2009 that it would separate the unit and launch an IPO and then sold the company to a venture group that included Andreessen in 2009 for $1.9 billion and a $125 million note.
What's the end game here? Icahn wants to portray eBay's board as a mess. If he succeeds, the investor will have a better chance of making his case that eBay should spin off PayPal in a move that may not make a ton of sense.
I have a message for eBay’s board: You may be able to duck and weave when it comes to the media, but in a few short weeks you will have no choice but to face your stockholders at the annual meeting. We all deserve to know the truth about what really happened with Skype.