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URGENT ¥¥¥ Google chairman to sell $2.5 bn of shares

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(Globalpost/GlobalPost)

Google's Chairman Eric Schmidt plans to sell 3.2 million "A" shares, currently worth $2.5 billion, over the next year, Google said Friday in a filing with the Securities and Exchange Commission.

The sale amounts to 42 percent of Schmidt's 7.6 million Class A and Class B shares in the company, a 2.3 percent stake in the company, but 8.2 percent of voting power.

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http://www.globalpost.com/dispatch/news/afp/130208/urgent-google-chairman-sell-25-bn-shares