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HTC to halt trade of shares in anticipation of takeover

HTC, a widely known Taiwan-based tech brand, has today announced that it will be halting trading of its share tomorrow. The company is halting shares in anticipation of a “major announcement,” first reported by Bloomberg’s Tim Culpan.

Earlier this month, it was rumored that the company was in final talks with Google for a possible takeover. Today’s news appears to be the setting stage for a major announcement that will put everything into place and make the buyout official.

HTC issued a boilerplate statement in response to reported rumors of negotiations with Google. The company stated that “HTC does not commend on market rumor or speculation.” It’s not surprising that HTC is being bought out because the company has been operating in loss for over a year now.

Despite the latest U11 flagship introduction, the company hasn’t been able to gain proper traction to attract new customers. The company doesn’t seem to be confident in being able to survive without outside help. Since Google and HTC already maintain a close relationship, it’s not surprising that Google may be the one to buyout HTC.

Hamza Khalid

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