US billionaire Icahn increases share in Motorola
As the US telecommunications industry battles to prevent losses tied to the flagging economy, controversial investor Carl Icahn, has further increased his share in Motorola, the dpa reported.
By Wednesday the American billionaire claimed to have increased his share to 7.6 per cent of the company.
Icahn, who is among the firm's largest stockholders, has been fighting for larger control of the company. In early April, Motorola arbitrated a legal battle with Icahn gaining two seats on its board of directors. At that time the investor held a 6.4 per cent interest in the company.
In the face of a dramatic slump in stock prices Icahn sharply criticized management angling for a split in the corporation. At the end of March, Motorola announced the spin-off of its wireless handset division into its own privately held company. The failing mobile phone division had pulled the world's third largest mobile phone manufacturer into the red.