George Soros buys Comverse stake

Soros' stake is worth $78.3 million at Comverse's closing price of $7.55 per share yesterday.

George Soros has reached a 5.14% stake in Comverse Technology Inc. (Pink Sheets: CMVT) according to a statement that his Soros Fund Management filed with the US Securities and Exchange Commission (SEC). The Soros Fund Management owns 10,381,566 shares in the company.

The stake is worth $78.3 million at Comverse's closing price of $7.55 per share yesterday.

Yesterday, Comverse filed a request with the SEC to sell 10% of the 28 million shares it holds in Verint Systems Inc. (Nasdaq: VRNT). Even after a sale, Comverse will remain Verint's controlling shareholder, with a stake of around 60%.

Published by Globes [online], Israel business news - www.globes-online.com - on July 20, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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