Tuesday July 29, 03:46 PM
T. Boone Pickens sells entire Yahoo stake at a loss -- report
BOSTON (Thomson Financial) - Billionaire investor T. Boone Pickens sold his entire stake of 10 million Yahoo (NASDAQ: YHOO - news) common shares Tuesday that he bought on the belief that a buyout was imminent, according to a media report, which said Pickens called the company's management 'pathetic.'
The San Francisco Chronicle reported that Pickens, who has been upset with Yahoo's management for failing to reach an agreement to sell all or part of the Web portal to Microsoft (NASDAQ: MSFT - news) , sold all of his shares at a loss.
Pickens declined to say how much he lost on his Yahoo investment, the report said.
Shares of the Sunnyvale, Calif.-based Internet services provider slipped 6 cents to $20.06.
Greg Saulnier
gs/tk1
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