Icahn Boosting Motorola Stake

His various affiliates may buy more than $1 billion in stock.
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Carl Icahn is ratcheting up the pressure at

Motorola

(MOT)

.

The cell phone giant said late Wednesday that it has received notice that the billionaire financier has made antitrust filings to significantly boost his current 1.39% stake in the company.

The notice states that Carl Icahn and his Icahn Partners firm are each filing to acquire in excess of $119.7 million and up to $500 million of Motorola shares. Meanwhile, the Icahn Partners Master Fund and Icahn Partners Master Fund II limited partnerships are each filing to acquire in excess of $500 million of Motorola's stock, but less than 25% of the shares outstanding.

Motoroal has roughly 2.41 billion shares outstanding. Icahn last month disclosed that he

bought 33.5 million shares and indicated he is seeking a spot on the company's board. The move comes as Motorola struggles with weak profits amid tough competition and soft handset pricing.

Shares of Motorola were jumping 60 cents, or 3.2%, to $19.12 in late trading.