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Kerkorian selling large stake in FORD...!

Kerkorian cuts Ford stake; could sell all shares

Kirk Kerkorian

DETROIT (Reuters) -- Billionaire investor Kirk Kerkorian sold part of his 6.5 percent stake in Ford Motor Co. and could sell the rest of his stake in the automaker, Kerkorian's investment vehicle Tracinda Corp. said today.

The move comes after a more than 60 percent decline in Ford shares since Kerkorian raised his stake to 6.5 percent in June and said he was willing to support the automaker's turnaround with an infusion of additional capital.
Tracinda, which has invested about $1 billion in Ford, said in regulatory filings it sold 7.3 million Ford shares on Monday in the open market for an average price of $2.43 per share.

Tracinda intends to further reduce its holdings, including the possible sale of all of its remaining 133.5 million shares, or about a 6.09 percent stake, ...

story

Re: Kerkorian selling large stake in FORD...!

Guess he isn't driving a F 150 any more...

Re: Kerkorian selling large stake in FORD...!

no---guess not !!!

Re: Kerkorian selling large stake in FORD...!

Wow, it's obvious he has no confidence in Ford.
Otherwise, he'd be buying at the discount price and could grab an incredible number of shares. Possibly enough to gain control.

Without doing the math that looks like a lose, if Tracinda sold all their shares right now, of about 600 mil.

Wish I could afford to lose that........