5/14/2008 11:29:00 AM
Activist Motorola investor increases shareholding
Billionaire US investor Carl Icahn has increased his shareholding in beleaguered handset manufacturer Motorola by a further 1.1% to 7.5% in total.
Icahn (pictured) now owns 172.2 million of Motorola’s 2.3 billion outstanding shares.
He had previously threatened legal action against the company, which he has since dropped as he continues to establish himself as a hugely influential figure in Motorola.
He was understood to have been behind Motorola’s decision to separate the ailing handset division, and has also recently succeeded in getting two seats on the board for his representatives.
According to Forbes magazine, investment analysts believe he could be taking advantage of Motorola’s weak share price to build his shareholding at minimal cost.