10 Feb 2013

Google chairman to sell shares worth $US2.5b

10:33 am on 10 February 2013

Google chairman Eric Schmidt plans to sell shares worth $US2.5 billion over the next year.

In a filing with the Securities Exchange Commission, Google said the sale amounts to a 2.3% stake in the company and 8.2% of voting power.

AAP reported the sale was part of a pre-arranged trading plan.

Google's share price climbed 1.5% on Friday to a record $US785.37, putting the value of the shares Schmidt will sell at $US2.51 billion.