Magna founder Stronach chisels away at stake

Newswire

* Filings show Stronach stake at 1 mln shares * Equal to 0.4 pct stake in Magna, according to data * Sales speeded up in May and June * Stronach stepped down as Magna chairman in May (In U.S. dollars unless noted) VANCOUVER, June 21 (Reuters) - Magna International Inc founder Frank Stronach has been slowly but steadily reducing his stake in the auto parts company he founded, insider regulatory filings show. Data shows Stronach has sold nearly 17 million common shares in Magna since ...

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