Google inventors ‘reduced to 48%’
p2pnet view Advertising:- Has the recession finally hit Google inventors Larry Page and Sergey Brin?
Are they down to their last billion or two?
Is that why they’re selling some of their Google Bits?
They’re flogging a 10 million shares, “raising $5.5bn (£3.4bn) at today’s prices,” says the BBC, going on:
“Their 59% voting rights will be reduced to 48% when the sale is completed.”
Shares “will be sold over a period of five years to avoid hurting the stock price as much as possible,” says the story, adding:
“They are both as committed as ever to Google,” a spokeswoman said.
Phewww. That’s a relief!
The story doesn’t say if Gargler-in-Chief Eric Schmidt plans to sell any part of his 10%.
(Cheers, catflap)
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BBC – Google co-founders to sell shares, January, 2010
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