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Icahn May Sue Time Warner Over AOL Deal

by Glen Shapiro, LawAndTax-News.com, New York

02 December 2005


Billionaire financier, Carl Icahn has reportedly threatened to sue Time Warner if it sells its AOL unit at an unacceptable price.

Icahn is part of a group of investors who hold almost 3% of Time Warner's shares, and are pressing the firm's board to take radical action to boost its profile and share price.

Speaking at a recent conference, according to the Associated Press, Mr Icahn announced that:

"I'm going to hold the board of Time Warner personally responsible if they give away AOL the wrong way for the wrong reasons."

Time Warner reportedly declined to comment on the matter. However, in a statement issued on Tuesday, it revealed that it was "confident that we are taking the right steps to deliver sustainable value and a highly competitive return to all our shareholders".

The firm has been holding exploratory talks with a number of other companies, including Microsoft.


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