EBay responds to Icahn, says sticking with PayPal

2011 file/associated Press

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EBay and activist shareholder Carl Icahn are continuing their war of words over PayPal.

The billionaire has been pressuring the e-commerce company to spin off the online payment business. But eBay has said it’s not interested in separating its fastest-growing segment.

On Monday, Icahn said in a blistering letter to shareholders that eBay’s ‘‘complete disregard for accountability at eBay is the most blatant we have ever seen’’ and called out two directors and the chief executive specifically for ‘‘lapses in corporate governance.’’

EBay responded that it continues to believe stockholders are best served by keeping PayPal as part of the company.

PayPal, which eBay bought for $1.3 billion in late 2002, is now growing faster than the company’s core marketplaces business.

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