Sonki,
The following Reuter news release (yesterday) contains all the information you were looking for. I didn't post it cuz it is no big deal.
Allen had been selling MSFT to finance his other pursuits for sometime, and it was no surprise to the Wall St. It is generally accepted that the number of sellers is far more important that the amount being sold, especially if the percentage of sales amounts to less than 10% of holding as was the case in Allen.
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Microsoft co-founder Allen reports sales
WASHINGTON, Aug 7 (Reuter) - Microsoft co-founder, Paul Allen, told federal regulators that he has sold three million shares in the company since mid May.
In a filing with the U.S. Securities and Exchange Commission, Allen said he sold the three million shares between May 14 and July 25 for nearly $400 million.
In addition, Allen disclosed in the filing his proposed sale of an additional 300,000 shares on or around July 28 through Ragen Mackenzie Inc.
The filing follows confirmation earlier from Bill Savoy, president of of Allen's Vulcan Ventures Inc, that Allen has sold a total of 5.45 million shares in Microsoft over the past several weeks to fund a variety of investments.
Part of the money from the stock sales is going to pay for Allen's purchase of the Seattle Seahawks football team, which he recently bought for a reported $200 million. Allen also has committed up to $100 million toward a new football stadium that will be funded mostly through taxes.
Allen still retains about 100 million shares of Microsoft, a stake of nearly 9 percent that is worth more than $14 billion.
REUTER
Rtr 21:13 08-07-97
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Ibexx
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