Ballmer sells $1.3bn of MS shares

Microsoft chief executive Steve Ballmer has sold $1.3 billion of shares in the firm, a move he says should not be construed as a lack of faith in the software giant.

Ballmer claims the move, which is his first sale of Microsoft stock in seven years, is about diversifying his investments and planning for taxes.

Ballmer holds about 359 million shares in Microsoft (4.2 per cent of the $9.6 billion firm), making him the second largest shareholder after chairman and co-founder Bill Gates, according to Reuters.

PCR has the full story.