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EBay to sell stake in Skype (1:06 p.m. 9/1/09)

San Jose, Calif. (AP) — EBay Inc. says it has reached a deal to sell most of its stake in Skype in a deal it says values the online telecommunications service at $2.75 billion.

San Jose, Calif.-based eBay says it will get $1.9 billion in cash and a $125 million note from the buyer.

An investment group led by the private equity firm Silver Lake including Index Ventures, Andreessen Horowitz and the Canada Pension Plan Investment Board will take a 65 percent stake in the company.

Ebay will retain a 35 percent stake. It expects the deal to close in the fourth quarter of this year.

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