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Nov. 30, 2006 / 5:22 PM

Kerkorian unloads more GM stock

BEVERLY HILLS, Calif., Nov. 30 (UPI) -- Activist shareholder Kirk Kerkorian has cut his ownership of General Motors Corp. from 7.4 percent to 4.9 percent, U.S. regulatory filings showed Thursday.

The California billionaire's Tracinda Corp. investment arm last week lowered it 9.9 percent stake in GM to 7.4 percent, TheStreet.com said.

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This week, Tracinda unloaded another 14 million shares, leaving Kerkorian with 28 million GM shares. Tracinda's moves have been reported to the Securities and Exchange Commission in formal filings that were made public Thursday.

The world's No. 1 automaker's share price was off 2.5 percent in late day trading.

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Kirk Kerkorian

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