The Matrix Reloaded
NYSE execs owed millions
Microsoft moving Development to India
Antitrust move deals setback to Oracle
Basics of Good Customer Service
IC9700 continues to rise
Start a New Business
Microsoft vs MikeRoweSoft.com
ISO9001 for Small Businesses
Disney power split
British Airways profits rise
Apple Computer cuts
HSBC reports record bank profits
Indian Generic Drug Firm suffers Defeat
Fairtrade foods boom in UK
Microsoft and eBay link together
Leela Goa gains coveted Imperial Mark
Microsoft to return over $75 bn to shareholders
South Korean firm snaps up Lycos
Google IPO hits more trouble
Viagra blindness claim
Google shares released for sale
Trump Hotels files for bankruptcy
Google creators in share sell-off
eBay snaps up Rent.com for $415m
Pfizers Lipitor good for the heart
US theme park wins tax break as "place of worship"
AOL Spammer gets 15 months
Dell to swtich to AMD?
Wembley Stadium fails to meet deadline
Is Google operating illegally in China?
Bush to veto ports deal? Unlikely.
Google concerns grow
Walmart changes its healthcare terms for employees
Apple silences another website
Bye Bye Lehman Brothers
Lipton tea in China milk scare
Orange Rockcore - I AM
The downfall of mySpace
Mark Zuckerberg .... what a muppet.
Is Mark Zuckerberg killing Facebook
Facebook connect - Beacon Part 2

Google creators in share sell-off

Google founders Larry Page and Sergey Brin have announced plans to sell millions of shares in the web search company they launched in 1998. The pair each stand to pocket over $1bn (£535m) at current prices - and will still hold 27% of stock between them.

The proposed sale comes after employees and early investors in Google were given their first opportunity to cash in their shares earlier this month. Google has warned that fiercer competition is set to hit sales growth. And investors are waiting to see how the market on Monday reacts to the announcement.

Mr Page and Mr Brin, both 31, will sell their holdings over an 18-month period. Google chief executive Eric Schmidt will also be selling about 15% of his holding. Analysts say increasing the amount of Google shares in circulation may ease demand for stock.

Google's shares closed up 1.1% at $169.40 on the Nasdaq on Friday, but are down from highs of $201.60. The shares were priced at $85 at the time of the flotation in August.

Restrictions imposed ahead of the flotation to prevent shares being dumped quickly onto the market were lifted on 16 November.

Search for more info:

© InsiderView 2000 - 2008 : Sitewise - Insider View