George Soros bought PFE and ASND
Pfizer Topped New Investments From Soros Fund In 2nd Quarter
08/21/98
WASHINGTON -(Dow Jones)- Soros Fund Management, the
money-management firm of George Soros, concentrated its largest new stock
purchases in three major industries during the second quarter: pharmaceutical,
retail and telecommunications.
...
According to Federal Filings, the money manager's largest new position by
market value in the quarter was Pfizer Inc. (PFE). Soros purchased 4.6 million
shares valued at almost $500 million as of June 30. Shares of Pfizer, recently in
the news for its anti-impotence drug Viagra, traded between $96.38 and $121.75 a share during the second quarter.
...
On the telecommunications front, Soros took new positions in Ascend
Communications Inc. (ASND) and Comcast Corp. Class A Special shares
(CMCSK), purchasing 820,200 and 1 million shares respectively.
Ascend Communications Inc., which sells computer-networking gear,
confirmed on Aug. 3 that it has reached a definitive deal to acquire Stratus
Computer Inc. in a stock swap valued by the companies at $822 million. Ascend
is buying the Marlboro, Mass., company because it as its eye on the
fast-growing Stratus division that sells specialized computers to telephone
carriers for use in their voice networks. |
