Icahn Boosts Stake In Motorola
30th August 2010
The financier Carl Icahn, who is considered to be the biggest individual investor in Motorola, has now confirmed his commitment once again to the firm by purchasing some additional stock of Motorola as according to this week's filings of the Securities and Exchange. Icahn has bought one other stock of Motorola worth $86 million which has brought his total to 10.4 percent as the firm is moving towards the goals of breaking itself up at the start of the next year. Icahn has also gained a prominent role in guiding the future of Motorola more than 3 years back by arguing that the company is really worth of more broken up as compared to it being a single entity.
The earlier attempts for selling off the pieces of the company had failed but after the company had hired Sanjay Jha from Qualcomm, the long troubled mobile phone operations of the company started to gain more traction in the marketplace which is particularly by the development of the devices that are based on the Android platform of Google. Icahn is currently losing money in his investment of Motorola but with the help of averaging out his cost per share of the stock of the company he is hoping that he would be able to cash in when the company would split two of its main units provided the stock increases substantially.
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