Carl Icahn denies building stake in Time Warner, blames 'speculators' for rumour

Carl Icahn denies building stake in Time Warner
Carl Icahn denies building stake in Time Warner

Activist investor Carl Icahn has denied Monday evening that he was building a large stake in media company Time Warner.

Icahn told CNBC, "I don't own one share of Time Warner and it annoys me that certain speculators use my name to make profits at the expense of other shareholders."

Speculation has been rampant for weeks that an activist investor, perhaps even Icahn himself, was building a stake in the company.

If true, it wouldn't have been the first time the billionaire set his sights on the media giant.

In 2006, Icahn took a stake in Time Warner and urged the company to split up. Although he failed in his attempt to get the Time Warner to break up, he did reach a settlement that included a share buyback and cost-cutting measures.

At least at this point, however, it appears Icahn is not reloading for another boardroom battle.

A spokesman for Time Warnerdeclined to comment on the reports.

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