Carl Icahn Increases Holding in Motorola

Activist shareholder, Carl Icahn has increased his personal holding in Motorola to 3.3% - making him the third largest single shareholder in the company. Icahn has previously called for Motorola's Chief Executive Officer, Ed Zander to resign if he fails to revive the company's handset division by the end of this year.

Icahn and his funds owned a combined 64.9 million shares, or 2.8 percent company at the end of June and has been increasing the stake to reach 75.6 million shares at the end of September.

Motorola's largest single shareholder is the investment house, Dodge & Cox (10%) and number two shareholder is Capital Research & Management (4.1%).

Speaking last month, Ed Zander said his battle earlier this year with financier Carl Icahn who had engaged in a very public battle to get a seat on the board of the company, was all business and not a personal grudge match. He said he still sometimes stops in to see Icahn when he is in New York, as he does with other large shareholders.

Posted to the site on 15th November 2007