Troublemaking investor Carl Icahn has doubled his stake in Yahoo! despite sitting on a billion dollar loss from his first stake in the firm.

Icahn built up a huge stake in Yahoo! in May when shares were floating around $25. He tried, and failed, to get the board to accept a $33 a share offer from Microsoft.

According to an SEC filing Icahn has bought another 6.9 million shares – for less than $10 each.

Founder Jerry Yang is taking a back seat at the firm and it is looking for a new CEO. Icahn wanted Yang out in order to push through the takeover by Microsoft.

Talks with Microsoft are rumoured to be still going on – possibly just for its search business. And presumably Steve Ballmer is offering a lot less than $33 a share.

Yang’s supposed preferred response, an ad deal with Google, has also fallen through. ®

[via theregister]

Using Google+? Add TechnologyCafe to your circles. Get to know latest Technology and Social Media news and happenings around the web on Google+.