I Love Motorola

Icahn said in a filing to the Securities and Exchange Commission that he has upped his allocation regard to 172.2 million shares, or 7.6%, from 6.4% previously. Icahn model lifted his holdings in March, and while Motorola shares received a significant support then, they were trading down nearly 1% Wednesday.

The filing comes after the handset maker and Icahn agreed to put aside their differences and aside two of Icahn’s four nominees to be named to Motorola’s board. Motorola is currently working to about its operations into two separate publicly traded companies. On March 26, the visitor announced it would seek to splinter off its handset entity by 2009.

If Motorola were to find a buyer for its mobile-phone unit, the remainder of the company would consist of a mooring set-top box operation, a wireless networking infrastructure business and a security and authority services venture. During Motorola’s annual shareholder meeting Monday, stockholders expressed frustration and trouble over the pace of the company’s recovery and possible spinoff of the mobile-phone business. More notably, a shareholder suggestion for an advisory vote on executive compensation received a majority 50.7% of the shareholder vote.

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