INQUIRER.net: Google chairman to sell $2.5 bn of shares

INQUIRER.net Philippine News for Filipinos

Google chairman to sell $2.5 bn of shares Feb 9th 2013, 00:17 WASHINGTON— Google's Chairman Eric Schmidt plans to sell 3.2 million "A" shares, currently worth $2.5 billion, over the next year, Google said Friday in a filing with the Securities and Exchange Commission.   The sale amounts to 42 percent of Schmidt's 7.6 million Class A and Class B shares in the company, a 2.3 percent stake in the company, but 8.2 percent of voting power.   The sale is part of a pre-arranged trading plan for Schmidt's "long-term strategy for individual asset diversification and liquidity," according to the filing.   "Using this trading plan, Eric can diversify his investment portfolio and can spread stock trades out over a period of o... Keep on reading: Google chairman to sell $2.5 bn of shares Media files: google.jpg (image/jpeg)

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