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Business Briefing / INTERNET

Fund sells 70% of its Yahoo stake

August 14, 2008|From Times Wire Services

Yahoo Inc. shareholder Paulson & Co., a hedge fund that backed billionaire Carl Icahn's unsuccessful bid to unseat the board, sold 70% of its stake in the Internet company.

Paulson held 15 million Yahoo shares as of June 30, according to a regulatory filing. The New York firm had owned 50 million shares at the end of March.

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