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Taiwan smartphone giant HTC selling stake back to headphone maker
Dhu Taipei Published in Saudi Press Agency on 27 - 09 - 2013

AlQa'dah 21, 1434, Sep 27, 2013, SPA -- Taiwan-based HTC, one of the world's biggest vendors of smartphones, said Friday it would sell its remaining 24.84
per cent stake in US headphones maker Beats Electronics back to the
firm for 265 million US dollars.
dpa cited HTC as saying in a statement to the Taiwan Stock Exchange that Beats
Electronics intends buying back the remaining stake held in it by HTC
and the deal would be closed soon.
In 2011, HTC bought a 51 per cent stake in the high-end headphones
maker for 309 million dollars. In November, 2012, HTC sold half of
that stake back to Beats for 150 million dollars.
-- SPA
18:04 LOCAL TIME 15:04 GMT
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