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Old 11-30-2006, 03:23 PM   #1
Scooby Guru
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Default Kerkorian selling another 14M GM shares

Kerkorian selling another 14M GM shares


DETROIT - General Motors Corp. shareholder Kirk Kerkorian is selling another 14 million shares in the troubled automaker, dropping his stake by a third to 4.95 percent

In a filing Thursday with the U.S. Securities and Exchange Commission, Kerkorian's Tracinda Corp. said it had reached agreement on Tuesday to sell the shares at $28.75 each.

The sale will close on Friday, the filing said.

Last week, Kerkorian also sold GM stock, lowering his stake to 7.4 percent from 9.9 percent.
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