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Raising - USA - Kerkorian will boost stake in GM to 9.5%
Boston,Mass,USA -The Boston Globe -Sept 2, 2005: -- Billionaire Kirk Kerkorian will spend about $463 million to raise his stake in General Motors Corp. to 9.53 percent in a bet that GM can end losses that total $1.4 billion so far this year... Kerkorian's Tracinda Corp., GM's third-largest shareholder, said in a regulatory filing yesterday it will increase its stake from about 7.2 percent with the purchase of 13.1 million shares in three transactions. After the purchases, he will control 53.8 million shares... "There's so many problems there, he's got to think that he's got an answer and that he can influence the company or that they'll just pay him to go away," said...
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