Report: PayPal may not be looking to sell itself

PayPal may not be seeking an acquisition; Semaphore reportedciting people familiar with the matter.

Earlier this week, Bloomberg reported that the bar Express interest In purchasing some or all of the properties of PayPal Holdings, which includes the core product PayPal and its services, as well as other companies such as Venmo. Stripe declined to comment on the news.

But unnamed sources told Semaphore that the company was working with bankers to prepare for a potential activist investor campaign or hostile takeover. The bankers were working with Alex Chris, PayPal The now-ousted CEO, the outlet reported. The company’s new CEO will start next week PayPal said.

PayPal did not respond to TechCrunch’s request for comment.