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    HomeNewsWorldIcahn says to withhold shares from proposed Apple buyback

    Icahn says to withhold shares from proposed Apple buyback

    Icahn said he and his affiliates owned 4.7 million Apple shares as of Wednesday morning, a 22 percent increase since he met Cook for dinner in late September.

    October 25, 2013 / 08:55 IST

    Billionaire investor Carl Icahn said he would withhold his shares of Apple Inc from a USD 150 billion buyback that he has proposed for the iPhone maker.


    "There is nothing short-term about my intentions here," Icahn wrote in a letter to Apple Chief Executive Tim Cook dated October 23 and published on Thursday.


    Also Read: Ex-Apple CEO Sculley mulling BlackBerry bid, say Sources


    Icahn said he and his affiliates owned 4.7 million Apple shares as of Wednesday morning, a 22 percent increase since he met Cook for dinner in late September.

    Icahn said in the letter that he believed Apple's stock was undervalued.

    first published: Oct 24, 2013 09:32 pm

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