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Liberty Satellite Gets Boost

April 17, 2001|Bloomberg News

Liberty Satellite & Technology Inc. shares surged as Microsoft Corp. Chairman Bill Gates reported holding a personal stake of 7.8% in the satellite and wireless communications company controlled by Liberty Media Corp. Englewood, Colo.-based Liberty Satellite's Series A shares rose 63 cents, or 25%, to close at $3.14 in over-the-counter trading after Gates' investment firm, Cascade Investment, reported the investment in a filing with the Securities and Exchange Commission. Liberty Satellite's Series B shares rose $1, or 40%, to close at $3.50, on Nasdaq. Cascade reported owning the equivalent of about 5.1 million Series A common shares of Liberty Satellite. The SEC filing didn't disclose when or for how much Cascade acquired any of the stock.

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