Yahoo! shareholders led by Icahn sell more than 12.7 million shares

By Lisa Kerner

Charlotte, N.C., Aug. 31 - Carl Icahn affiliates led by High River LP sold 12,706,552 shares of Yahoo! Inc. between Aug. 27 and Aug. 31 priced from $14.7488 to $14.9237, according to a schedule 13D/A filed with the Securities and Exchange Commission on Monday.

High River and its affiliates sold the shares "in order to provide a more desired balance in their portfolios relating to tech stocks," the filing said.

The investors cited Yahoo!'s "window" for sales by officers and directors that would be closing after Monday and said the sales did not reflect their long-term view of the company. Icahn is a Yahoo! director.

High River said it continues to believe in the Microsoft Corp./Yahoo search transaction and fully supports Yahoo! chief executive officer Carol Bartz.

Icahn beneficially owns 62,918,572 shares or 4.48% of the Sunnyvale, Calif., internet services company.

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