MBIA Inc. said Monday that it is selling its stake in Topstar, a tender option bond program that it created in tandem with a subsidiary of France's largest nonbank financial institution.

Separately, MBIA said yesterday that it had net income of $130.7 million, or $3.10 per share, in the first half of 1994, down 4.2% from $136.5 million, or $3.22 per share, in the first six month of 1993. For the second quarter, MBIA had net income of $65 million, or $1.54 per share, up 3% from $63.8 million, or $1.50, in second quarter 1993.

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