Zhone Technologies investor sells shares, drops ownership to 4.9%

By Lisa Kerner

Charlotte, N.C., Sept. 10 - A group of investors led by TPG Advisors II, Inc. sold 1,593,168 shares of Zhone Technologies Inc. between Aug. 28 and Sept. 9 at volume weighted average prices between $0.5217 and $0.6364 each, according to a schedule 13D/A filed on Thursday with the Securities and Exchange Commission.

TPG beneficially owns 7,378,436 shares, or 4.9%, of the Oakland, Calif.-based company's outstanding shares.

Zhone designs, develops and manufactures communications network equipment for telephone companies and cable operators worldwide.

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