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eBay closes Skype sale

Fri, 11/20/2009 - 7:05am
Monica Alleven, Wireless Week

eBay completed the sale of its Skype unit in a deal valuing the business at $2.75 billion.

The buyer, who will control an approximately 70 percent stake, is an investor group led by Silver Lake and includes Skype co-founders' Joltid Limited and certain affiliated parties, the Canada Pension Plan Investment Board and Andreessen Horowitz.

eBay says it received about $1.9 billion in cash and a note from the buyer in the principal amount of $125 million. The company retains an equity investment of about 30 percent in Skype. The company also purchased senior debt securities with a face value of $50 million as part of a Skype debt financing.

Paving the way for the closure of the deal, eBay earlier this month reached a settlement with Joltid and Joost N.V. over software licensing. As part of the settlement, Joltid and Skype founders Niklas Zennström and Janus Friis received a 14 percent stake in Skype.

More Broadband Direct 11/20/09:
•  Comcast Spotlight takes sales circulars to VOD
•  Verizon to announce FiOS launch plans in Philly
•  Report: Another drop in telecom capex in 2010
•  Comcast ups investment in Clearwire again
•  TV Guide Network, Comcast extend carriage agreement
•  Fox Business finds a home on Cablevision
•  3 charged in Pa. with redirecting Comcast traffic
•  eBay closes Skype sale
•  Broadband Briefs for 11/20/09

 

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