Business digest

NATION

EBay makes a trade

NEW YORK — EBay Inc. is trading control of the online telecommunications service Skype for about $2 billion, reversing a 2005 acquisition that many analysts considered a head scratcher from the beginning.

The company famous for its online marketplace said Tuesday it is selling a 65 percent stake in the business to a group of private investment funds for $1.9 billion in cash and a $125 million note, while retaining a 35 percent stake.

EBay said earlier this year that it would spin off Skype, which lets people make free or cheap voice and video calls on computers and cell phones.

Payless to open in Russia

TOPEKA, Kan. — Collective Brands Inc. said Tuesday it plans to open its first Payless shoe stores next year in Russia, its latest market for international expansion.

Topeka-based Collective Brands and its partner M.H. Alshaya Co. will open five franachised Payless ShoeSource stores in Russia late next year. It says they hope to open at least 90 stores there in about five years and more than 300 stores total longer-term. There are more than 4,500 stores stores worldwide in the Payless retail chain.

Associated Press