NEW YORK (Reuters) - Billionaire investor Carl Icahn has increased his holding in Motorola Inc MOT.N to more than 10 percent, according to documents the company filed with the U.S. Securities and Exchange Commission.
Icahn bought more shares in the company this week after reporting on August 3 that he had raised his stake to 9.99 percent since May 7, when he had held 8.75 percent of Motorola’s shares.
Motorola is planning to split in two in the first quarter of next year, separating its cellphone and set-top box business from its enterprise mobility business. Last month the company said it was selling its network equipment business.
Shares in Motorola rose 3 percent to $7.74 in premarket trade after closing at $7.50 in Thursday’s New York Stock Exchange session.
Reporting by Sinead Carew; editing by Gerald E. McCormick