WASHINGTON: United Arab Emirates-based media investment company Istithmar controls 2.39 per cent of Time Warner Inc's stock and has hired one of Carl Icahn's entities as its advisor, the firm disclosed in a US regulatory filing on Thursday.
The Dubai investment firm acquired the stake in January through $2bn in participation notes issued by UBS AG.
The notes give Istithmar effective control of more than 109 million Time Warner shares, according to the company's filing with the US Securities and Exchange Commission
Time to get the CNN PR going for a YES on the Port Security
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