Carl Icahn raises stake in troubled Motorola

Carl Icahn raises stake in troubled Motorola

Carl Icahn has revealed that he has raised his stake in the US based mobile phone maker Motorola which is struggling with revenues in this quarter.

Icahn added that he is still seeking a position in the company’s board of directors. This information was revealed in a proxy filing which was delivered to U.S. Securities and Exchange Commission late on Thursday.

Interestingly, this comes at a time when Motorola has just announced a profit warning. The company also announced a bigger share buyback.

The new developments suggest that Icahn is still not satisfied with the steps taken by the mobile industry giants.

Icahn has raised his stake in Motorola to 2.7 percent. His previous stake in the company stood at 2.48 percent.