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Technology Stocks : Motorola (MOT)

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To: manalagi who wrote (2814)	3/23/2007 8:04:36 AM
From: John Hayman	of 3436

Icahn ups Motorola stake to 2.7 percent Billionaire investor pushes No. 2 mobile phone manufacturer to increase share buybacks. March 23 2007: 7:46 AM EDT WASHINGTON (Reuters) -- Billionaire investor Carl Icahn has increased his stake in Motorola Inc. to 2.7 percent from 2.48 percent, according to a proxy filed with regulators Friday. Icahn said in the updated filing with the Securities and Exchange Commission that he is seeking a seat on Motorola's board and has no interest in Motorola other than through the beneficial ownership of its common stock or other securities. In late January, Icahn said he had taken a stake in Motorola and would seek a board seat to try to pressure the company into using some of its $11.3 billion cash pile to buy back its shares. Motorola (Charts), the world's second-biggest mobile phone maker, said Wednesday it accelerated its share buyback program. Motorola has faced increased competition from Ericsson (Charts) and Nokia (Charts) for the global cellphone market.

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