Wednesday, January 25, 2006

Kerkorian ups GM stake to 9.9 percent; shares rise - Yahoo! News

We can only ponder what this means...
"Billionaire investor Kirk Kerkorian has increased his stake in General Motors Corp. (NYSE:GM - news) to 9.9 percent from 7.8 percent, according to a regulatory filing on Wednesday.

News of the move helped send GM's shares higher in after-hours electronic trading.

Kerkorian's Tracinda Corp., over which he has effective control, acquired 5 million shares on the open market on January 23 at an average price of $21.40 a share and an additional 7 million shares in a private transaction expected to settle on January 27, according to the filing with the U.S.
Securities and Exchange Commission."

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