Dubai Investment Firm Teams Up with Icahn

An investment firm backed by the government of Dubai has announced that it plans to acquire a stake in Time Warner and engage Carl Icahn as an adviser. Icahn is seeking to take control of the board of the media giant, replace its chairman, and force the company to spin off AOL and the Time Warner cable company. The Wall Street Journal said that the investment firm, Istithmar PJSC, has capital of about $2 billion, with half of it invested in various companies.
2006-02-11 15:15:00