US billionaire investor Kirk Kerkorian, who had once pledged his support and confidence in Ford Motor Co., has sold all of his remaining shares in the automaker, Dow Jones Newswires reported Monday.
Kerkorian's holding group Tracinda Corp. no longer owns any shares in Ford, a Tracinda spokesperson told the news agency Monday.
Tracinda was not immediately available to comment on the report.
Tracinda sold 7.3 million shares of Ford common stock in October for an average price of 2.43 dollars per share -- representing a huge loss for Kerkorian -- and said it was considering divesting its entire stake through the end of the year.
Tracinda had about 133.5 million shares remaining, or a 6.09 percent stake, in the loss-making automaker.
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2 comments:
Who knows how many others will draw their money out next. Now look for Ford to go overseas for help.
Ford will probably end up getting bought out by Tata.
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