What does Bill Gates have in mind with his recent investments in railroad and electric utility companies? Is he going to use the rail and power easements to run fiber optic lines (as Qwest did)?
UPDATE 1-Bill Gates has stakes in Wisc. Central, Otter Tail
(adds Wisconsin Central stake)
WASHINGTON, April 28 (Reuters) - Bill Gates said on Friday he held stakes of 7 percent in railroad company Wisconsin Central Transportation Corp. (NasdaqNM:WCLX - news) and 5.04 percent in electric utility Otter Tail Power Co. (NasdaqNM:OTTR - news).
Gates, one of the world's richest men and co-founder of Microsoft Corp. (NasdaqNM:MSFT - news), disclosed the positions in filings with the Securities and Exchange Commission.
Wisconsin Central, based in Rosemont, Ill., is up 1/16 to 14-1/2 while Otter Tail, located in Fergus Falls, Minn., is up 2-3/16 to 25-3/16 in late afternoon Nasdaq trading.
Gates's 7 percent position in Wisconsin Central is equal to 3,600,300 common shares and his 5.04 percent stake in Otter Tail is worth 1,201,400 shares.
The SEC filings were made on behalf of Gates and his investment vehicle, Cascade Investment LLC.
The passive investment filings did not say when the Otter Tail shares were bought nor at what prices. |
