Malone Sells AT&T Slice3/12/2000 7:00 PM Eastern
Englewood, Colo. -- Liberty Media Group chairman John
Malone recently sold about 14 percent of his stake in AT&T Corp., pocketing about $250
million, according to securities filings.
According to FirstCall/Thomson Financial Services, Malone
sold 4.672 million shares of his AT&T stock, reducing his holdings to 28.9 million
Even with the sell-off, Malone remains AT&T's
largest shareholder with roughly 1 percent of outstanding shares. In addition to being
chairman of AT&T subsidiary Liberty, Malone is an AT&T director.
Malone sold the stock in three separate transactions. The
first was a 1.561 million-share block sold for between $58 and $58.19 per share Dec. 7,
which yielded Malone between $90.5 million and $90.8 million. The second sale was Jan. 3,
for 200,000 shares at $52.38 each, netting Malone $10.5 million.
Between Jan. 5 and 10, Malone sold a block of 2.911 million
shares for between $50.19 and $51.75, taking in between $146.1 million and $150.6 million.