Intel sold $1.4 mln Broadcom shares, will sell more
(Reuters 06/18 12:37:42)
WASHINGTON, June 18 (Reuters) - Intel Corp. <INTC.O> sold
$1.4 million of its shares in Broadcom Corp. <BRCM.O> and plans
to dispose of another $3.3 million worth, according to a filing
with the Securities and Exchange Commission.
The Santa Clara, California-based computer chip giant sold
40,197 class A common shares on March 28 and will sell an
additional 167,697 shares, it said.
Intel acquired the shares through the net exercise of a
warrant issued by Reliance Computer Corp., also known as
Serverworks Corp., and subsequently assumed by Broadcom after
it acquired Serverworks in January 2001, the filing added.
Broadcom is an Irvine, California-based maker of chips for
computers and network equipment. Its shares were $1.32 higher
to $22.56 in late afternoon trading on the Nasdaq. Intel was
down 37 cents to $22.19, also on the Nasdaq.
((Peter Ramjug, Reuters SEC Desk, 202-898-8399))
REUTERS
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