TWA <TWA> SELLS POSITION IN USAIR <U>
Trans World Airlines Inc sold four mln
shares it held in USAir Group Inc, Wall Street sources said.
The sources said the buyers are believed to be a group of
institutions.
    Bear Stearns handled the trade. It crossed the four mln
shares at 45, off 1/8. Bear Stearns would not comment on buyers
or sellers.
    USAir and TWA had no immediate comment.
    USAir later said it did not buy the stock. A company
spokesman would not comment further.
    TWA earlier this month reported holding slightly more than
four mln shares, or about 15 pct of USAir. It had also proposed
a takeover of USAir, which at the time was negotiating its
proposed merger with Piedmont Aviation Inc.
    On March 16, TWA withdrew its bid, saying it did not intend
to seek control of USAir Group or to acquire more of its stock
at the time.
    TWA also said in the filing with the Securities and
Exchange Commission that its chairman, Carl Icahn is the target
of an SEC probe of alleged violations of securities laws.
    In its filings with the SEC, TWA said it paid 178.2 mln
dlrs for its USAir stock.
    "With this out of the way, if it indeed was bought by
institutions, it paves the way for better value for USAir stock
later," said Janney Montgomery analyst Louis Marckesano of
TWA's sale of its stock.
    "Technically, as long as that block was overhanging the
market you didn't know what was going to happen," he said.
    USAir stock was trading at 44-3/8, off 3/4 on volume of 4.4
mln shares. TWA stock rose one to 28-1/4.
 Reuter
