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September 27, 2013 06:15 pm GMT
The writing was on the wall. It was bound to happen. HTC has sold its remaining stake in Beats Electronics for $265 million. This is likely nothing more than a desperate bid to improve the battered phone maker's cash balances.According to Bloomberg, the deal is expected to close in the fourth quarter. By selling beck the 24.84 percent stake in Beats, HTC stands to gain a NT$2.52 billion ($85 million) pretax profit. Beats will also repay a $150 million promissory note, plus accrued interest.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/7ShkUjf5lgE/
HTC To Sell Back Its Remaining Stake In Beats Electronics For $265M
The writing was on the wall. It was bound to happen. HTC has sold its remaining stake in Beats Electronics for $265 million. This is likely nothing more than a desperate bid to improve the battered phone maker's cash balances.According to Bloomberg, the deal is expected to close in the fourth quarter. By selling beck the 24.84 percent stake in Beats, HTC stands to gain a NT$2.52 billion ($85 million) pretax profit. Beats will also repay a $150 million promissory note, plus accrued interest.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/7ShkUjf5lgE/
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