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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7 Comments on Microsoft Sells All its Shares from Comcast

#2
TheMailMan78
Big Member
Ouch. If they were hurting before their screwed now. Not because of Microsoft's backing but the fact they pulled out. 7.26% isnt that much compared to some investors but its the whole "aura" of the thing.
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#3
alexp999
Staff
In one pocket, out the other, at this rate, the EU will be getting whatever procedings come of this, for the dumb IE objections. :rolleyes:
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#4
Mega-Japan
Meh.
Just for curiosity, who's the largest ISP in US?
I assume telephone provider is Verizon?
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#5
Sasqui
That is a rather interesting move, though there's the fact that MS isn't doing so hot right now either, perhaps they need the cash for something else at the moment.
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#6
mdm-adph
by: Mega-Japan
Meh.
Just for curiosity, who's the largest ISP in US?
I assume telephone provider is Verizon?
I betcha it's AT&T. They've pretty much bought up all their little subsidiaries that were chopped away from them back in the 80's (when their monopoly was broken up), so I'd be surprised if they once against weren't the largest ISP & telephone provider once again.
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