• Most Popular
  • Most Shared

UPDATE 1-Bill Gates raises stake in dealership AutoNation

Fri Nov 21, 2008 6:19pm EST

Stocks

   

DETROIT, Nov 21 (Reuters) - Microsoft Corp (MSFT.O) co-founder Bill Gates has raised his passive stake in AutoNation Inc (AN.N), the largest U.S. auto dealership group, to 10 percent.

Stocks  |  Global Markets

Gates, who previously reported a 5.5 percent stake in AutoNation, said on Friday that his Cascade Investment LLC owned 9.4 million shares in AutoNation and that the Bill & Melinda Gates Foundation Trust holds more than 8.3 million shares.

Also on Friday, investor Edward Lampert disclosed he holds a 45 percent stake in the dealership group that totals 79.6 million shares, according to filings with the U.S. Securities and Exchange Commission.

Lampert has added steadily to his holdings in the Fort Lauderdale, Florida-based company throughout 2008. (Reporting by David Bailey; Editing by Andre Grenon)

Stocks
Global Markets


More from Reuters

Photo

Investors seen jumping the gun on airport security

BANGALORE (Reuters) - Investors' optimism surrounding the shares of airport security systems makers could be premature as interest in the companies' products after the Christmas Day plane scare is not expected to translate into immediate orders.

» More Top News
Leaves gather in front of an empty and boarded-up house in Youngstown, Ohio November 21, 2009. REUTERS/Brian Snyder

Castles built on sand

Rust-belt American cities like Youngstown, Ohio were battered by the downturn. Now they're ready to move on, but it won’t be easy. The first in a three-part report.  Full Article 

Route to Recovery
REUTERS/James Saft
JAMES SAFT:

Welcome to the "Teenies"

Shrinking financial sector? Paltry investment returns? Welcome to the the next decade. Don't worry, there's some good news, too.  Commentary 

COMMENTARY