Online auction house eBay has sold 70% of its Internet phone service Skype to a consortium for more than $2-billion.

According to reports, eBay will retain a 30% share in Skype, but will earn about $1,9-million from the sale. The terms of the deal indicate that the market value of Skyoe currently sits at about $2,75-billion.
eBay paid $2,6-billion for Skype in 2005.
The consortium which now owns the IP telephone and chat service includes private equity company Silver Lake, Joltid, Andreessen Horowitz and the Canada Pension Plan Investment Board.