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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (1594)	4/23/1999 6:51:00 PM
From: porcupine --''''>	Read Replies (2) \| Respond to of 1722

*** Some AOL shareholders cashing in NEW YORK (AP) - America Online Inc. said several major shareholders, including Sprint Corp., will sell stakes valued at about $4.61 billion. Sprint will cash out its entire AOL holding of 28.8 million shares, a 2.8% stake. Sprint purchased 450,000 shares of AOL, the largest Internet access provider and online service, for $31.25 each. Because AOL's potential was unknown at the time, a spokesman for Sprint told the Wall Street Journal that the company hedged the transaction to lock in gains. Sprint therefore will realize a profit of only about $100 million. AOL's stock has had six 2-for-1 splits since 1993. Based on Thursday's closing stock price of 148 11/16, the AOL stock would be worth $4.3 billion. The other 2.2 million shares are being sold by 31 companies and individuals, including investor Paul Allen, and Washington Post Co.