eBay coughs up $1.5bn for PayPal

$1.5bn? That price is so 1990s...

Auction site eBay is buying online payment firm PayPal for $1.5bn in stock. The PayPal deal will provide eBay's customers with the facility to send and receive internet payments securely and cheaply, according to the auction site. The all-share deal will see 0.39 eBay shares exchanged for each PayPal share. The deal is still awaiting government and regulator approval. By Brianne Llewellyn