More details about IBM stake:
IBM says holds 7.2 percent stake in Prodigy
February 24, 1999 01:04 PM
WASHINGTON, Feb 24 (Reuters) - International Business Machines Corp. IBM said Wednesday it acquired a passive 7.2 percent stake, or 4,536,778 common shares, of Prodigy Communications Corp. PRGY .
Leading computer maker IBM, of Armonk, N.Y., disclosed its stake in the White Plains, N.Y., Internet service provider in a 13G filing with the Securities and Exchange Commission.
Those filings are usually made by institutions and large investors with passive investment objectives in a company. Unlike 13D filings, 13Gs do not include details such as when securities were bought or sold, or at what price.
IBM was up $2 to $179.25 on the New York Stock Exchange while Prodigy was up $2.75 to $35 on Nasdaq.
((Peter Ramjug at Washington newsroom, phone: 202-898-8399 Fax: 202 347-3853, E-Mail peter.ramjug@reuters.com))
REUTERS
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