Carl Icahn now owns 2.9% of Motorola

Carl Icahn now owns 2.9% of Motorola

Carl Icahn has revealed that he has now raised his stake in the mobile phone maker Motorola to around 2.9%. His previous stake in the company stood at 2.7 percent.

These latest figures were revealed in a regulatory filing on Monday. Icahn has been asking the Motorola board to make some drastic changes in the company to get back in shape as they struggle to compete against rivals including Nokia and Samsung.

He has already expressed his desire to have a board seat with the aim to get the company to use some of its $11.3 billion cash pile to buy back more shares.

Icahn has also been lobbying for shareholders to vote him to the board at Motorola’s annual meeting on May 7. Motorola dominates the US market but is the second largest mobile phone maker in the world after Nokia.