Activist investor Carl Icahn has upped his stake in Schaumburg-based Motorola Inc. to about 10.6 percent from a 9.99 stake he disclosed earlier this month, according to a filing with the U.S. Securities and Exchange Commission.
Icahn has been steadily amassing Motorola stock this year as the company turns around its flagship mobile devices division and prepares to split into two independent entities in the first quarter of 2011. The mobile phone unit is expected to return to profitability in the fourth quarter of this year.
Icahn reported in a Thursday filing that he bought his new Motorola shares on Wednesday and Thursday, bringing his total holdings to 247.1 million shares. This amounts to roughly a 10.6 percent stake.
