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Dubai, 2.4% Time Warner stake
- United Arab Emirates: Saturday, February 18 - 2006 at 10:18
Dubai Government investment vehicle Istithmar has bought a 2.4% stake in Time Warner through $2bn in participation notes issued by UBS, and has engaged a Carl Icahn firm as its advisor, according to a filing with the US Securities and Exchange Commission. Time Warner is involved in a proxy battle with financier Carl Icahn, who has proposed the break up of the world's largest media company into four groups.
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Peter J. CooperSaturday, February 18 - 2006 at 10:18 UAE local time (GMT+4)
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This article was updated on Sat Sep 30 2006.
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