Icahn says wrote to Apple CEO, will reveal contents on new website

Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference the New York Stock Exchange on June 27, 2007. Mr Icahn, a billionaire activist investor, is urging Apple Inc to expand its share buyback plan. On Wednesday, Oct
Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference the New York Stock Exchange on June 27, 2007. Mr Icahn, a billionaire activist investor, is urging Apple Inc to expand its share buyback plan. On Wednesday, Oct 23, 2013, he said he has written a letter to Apple chief executive Tim Cook and will reveal the contents on a website to be launched on Thursday. -- FILE PHOTO: REUTERS 

SAN FRANCISCO (REUTERS) - Billionaire activist investor Carl Icahn, who is urging Apple Inc to expand its share buyback plan, said on Wednesday he has written a letter to Apple chief executive Tim Cook and will reveal the contents on a website to be launched on Thursday.

"Just sent a letter to Tim Cook. Full letter will be disclosed on my website, the Shareholders' Square Table, which will be launched tomorrow," he said on Twitter.

Apple could not be immediately reached for comment.

Mr Icahn, who has said his stake in Apple is worth around US$2 billion (S$2.5 billion), had dinner last month with Mr Cook and Apple chief financial officer Peter Oppenheimer and described the meeting as "cordial".

In August, Mr Icahn told Reuters that Apple has the ability to do a US$150 billion buyback now by borrowing funds at 3 per cent.

He also said at the time that "if Apple does this now and earnings increase at only 10 per cent, the stock - even keeping the same multiple currently - should trade at US$700 a share".