$1bn patent sale sees AOL shares at year-high
The New York-based website developer and internet access company said it plans to return some of the proceeds to its shareholders. After the sale, AOL should have about $15 per share of cash on hand.
AOL shares jumped $7.78, or 43%, to $26.20 in morning trading, adding about $750m to its market capitalisation. Microsoft shares slipped 37 cents, or 1.1%, to $31.15.
