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Google to sell 5.3 million common shares

MOUNTAIN VIEW, Calif., March 30 (UPI) -- California-based Google Inc. plans to sell about 5.3 million shares of common stock in a move that could bring in as much as $2 billion.

The move is intended, partially, to meet the anticipated needs of index funds to purchase Google common stock when Google is added to the Standard & Poor's 500 index at Friday's close of trading.

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"Proceeds from the offering will be used for general corporate purposes, including working capital and capital expenditures, and possible acquisitions of complementary businesses, technologies or other assets," Google said Thursday.

Google opened trading Thursday at $394.98 a share.

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