TECHNOLOGY & TELECOMMUNICATIONS

Allen Sells America Online Stake: Billionaire investor Paul Allen said he has sold his entire stake in the fastest-growing long-distance computer network company. Allen, who at one point owned about 1.4 million shares, or 18%, of the company, sold his remaining 568,000 shares. His stake was once valued at $120 million. Allen, who co-founded Microsoft Corp. with Bill Gates, had cut his stake to 7.87% from about 9.7%, after selling 130,000 America Online Inc. shares last week, according to a Securities and Exchange Commission filing. At one time, Allen had said he might try to acquire America Online, but his attempts to obtain a seat on its board of directors were rebuffed.