Investment firm acquires EarthLink stake

3 Jan 2008

New York-based investment firm Steel Partners, controlled by young entrepreneur Warren G Lichtenstein, has purchased a 9.9% stake in US telco EarthLink. In a 31 December 2007 filing with the Securities and Exchange Commission, Steel Partners said it now owns 9.9% of EarthLink’s shares, having paid USD97.3 million for the stake. Steel Partners may now be EarthLink’s largest shareholder having upped its stake in the Atlanta internet and telecoms services provider significantly during the past year.

United States, EarthLink