Fidelity Sells Rising Janus Shares
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Tuesday, April 11, 2006

Fidelity Sells Rising Janus Shares

Regulatory documents filed by Fidelity's parent group on Monday show the Boston leader has taken advantage of the rebounding price of Janus Capital Group stock by selling more than two-thirds of its stake since mid-February.

FMR Corp., of which Fidelity Investments is a wholly-owned subsidiary, now owns just over six million shares in Janus, or 2.82 percent of the class. These amounts are down from over 20 million shares, or about 9 percent, of the Denver company as listed in February 14 filings.

The shedding of shares comes after notable gains from Janus over recent months. Despite being tainted by trading scandals, the company's own stock has gained steadily, fueled in part by persistent talk of takeovers. Since October 2005, the price per share has gone from $17 to $24.

As it now controls less than five percent of outstanding Janus shares, FMR is no longer obligated to report material changes to its holdings.

Meanwhile, Bloomberg noted that Fidelity has also greatly increased its holdings in AMR Corporation, the parent of American Airlines, since the end of 2005, giving it almost 13 percent of the company's stock and making it AMR's largest shareholder.

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