Perennial activist investor Carl Icahn has increased his stake in Motorola, the US telecoms equipment company, to 11.2%. He bought another 15.2 million Motorola shares on November 3, at US$7.98 a share, for a total US$121.3m.
Icahn was already Motorola’s…
Perennial activist investor Carl Icahn has increased his stake in Motorola, the US telecoms equipment company, to 11.2%. He bought another 15.2 million Motorola shares on November 3, at US$7.98 a share, for a total US$121.3m.
Icahn was already Motorola’s biggest shareholder when he increased his shareholding to 9.9% of the company on August 5.
Icahn has long been a critic of Motorola’s management and with the two board directors that his shareholding bought him, has campaigned for a breakup and sell-off of the telecoms equipment manufacturer.
He seems to have gotten his way so far, as Motorola intends to split into two publicly traded companies in early 2011. The company has also been selling off various business units and both Nokia Siemens Networks and Pace Microtech recently bought parts of Motorola.
Motorola declined to comment.
