Google chairman to sell $2.5 bn of shares

WASHINGTON: Google's Chairman Eric Schmidt plans to sell 3.2 million "A" shares, currently worth $2.5 billion, over the next year, Google said Friday in a filing with the Securities and Exchange Commission.

The sale amounts to 42 percent of Schmidt's 7.6 million Class A and Class B shares in the company, a 2.3 percent stake in the company, but 8.2 percent of voting power.