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Google co-founders to sell $5.5 billion in stock

Baltimore Sun

SAN FRANCISCO - Google Inc. co-founders Larry Page and Sergey Brin are relinquishing some of their control over the Internet search leader with the sale of 10 million shares worth $5.5 billion at current prices. Under a plan disclosed Friday, the longtime business partners will each sell 5 million Google shares during a five-year period that will start with the first trade. The sales will occur periodically to lessen the chances of hurting Google's stock price. Page and Brin, both 36, will remain Google's most influential shareholders. The two own a special class of Google stock that gives them combined voting power of about 59 percent. After the sales, the founders' holdings will be whittled to a combined 47.7 million shares with 48 percent voting power.

- Associated Press

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