Wednesday, January 21st 2009
Microsoft Sells All its Shares from Comcast
Microsoft has sold its stake in Comcast Corp., the largest cable television company, the second largest Internet service provider and the fourth largest telephone service provider in the United States. In a filing Friday with the Securities and Exchange Commission, Microsoft announced it no longer held any shares in Philadelphia-based Comcast. The exact date of the share sale was not given, neither who's now behind the wheel of Microsoft's 7.26% stake. Back in 2002, Microsoft bought 115 million shares of Comcast, and until the moment of its retirement from the company's board it owned 150.9 million Class A shares. Representatives of Microsoft and Comcast declined to comment on the share sale, but according to third party financial advisors Microsoft's Comcast shares could have been valued at as little as $1.97 billion or as much as $3.4 billion. The amount of money whatever it is now goes back to Microsoft. I guess in time of recession it's better to have your money under the pillow, rather than investing them in something.
Source:
The Wall Street Journal
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www.iht.com/articles/ap/2008/02/13/america/Comcast-Data-Discrimination.php
Just for curiosity, who's the largest ISP in US?
I assume telephone provider is Verizon?