Google's Schmidt to sell roughly 42 percent of stake:

Google's Schmidt to sell roughly 42 percent of stake:Google Inc. Executive Chairman Eric Schmidt sells about 42 percent of its stake in Internet search, a move that could compensate the former CEO a bargain $ 2.51 billion.Schmidt, 57, will sell 3.2 million shares of Class A common stock through aGoogle buys online retail tracker for $ 125 milliontock trading plan, Google said in a filing with the U.S. Securities Commission of trading on Friday.The plan, which Schmidt said Google would "individual asset diversification and quidity," Schmidt transactions can spread over a period of one year, the impact on the market to decrease.Google shares fell $ 4.11 to $ 781.26 in after-hours trading Friday.A Google spokesman declined to comment on why Schmidt is selling shares at that time.

Wedbush Securities analyst James Dix said the sale of shares of Schmidt does not worry or to a loss of confidence in the company by Schmidt report."I'd be more worried if the current CEO or CFO sold a large part of their participation," said Dix.Schmidt, CEO of Google served until 2011, currently owns about 7.6 million shares of Class A and Class B common shares. The shares represent 2.3 percent of the outstanding shares of Google and about 8.2 percent of the voting shares of Google.

That Schmidt is still a significant amount of shares after the sale means that a good amount of have "skin in the game of Google," said Needham & Co analyst Kerry Rice. But he said he might suggest Schmidt plays a less central role in the company in the future.

"My hypothesis is that the relationship with Google Eric evolves," said Rice. "I suppose, if he decides he wants to diversify away from Google - both her career and financially - he has ideas about what he would do with some of its funds."

Schmidt, who transform into the Google search engine world No.1 helped during his ten years as CEO, handed over the reins to Google co-founder Larry Page in April 2011.As Executive Chairman, Mr. Schmidt primarily involved in government relations, plays a leading role in the discussions of the company with antitrust authorities in the United States and the European Union. The U.S. Federal Trade Commission has completed its investigation into Google last month without any action. Google has proposed a number of its business practices to amend the European competition authorities to appease.

"If Google moves to tactical battles may be over, as opposed to strategic battles that he lead the government, once they are closed, perhaps his role could be reduced" Needham & Co., said Rice.Schmidt also in the news outside of Google. In January, Schmidt went to North Korea with the former Governor of New Mexico Bill Richardson for a "personal" trip.The trip was criticized by the U.S. State Department as inappropriate - weeks after North Korea conducted a missile launch in contravention of UN Security Council sanctions.Google shares are traded at record highs, finishing regular session on Friday to a record close of $ 785.37. For this price, the sa