HTC suspends share trading in wake of Google takeover rumors


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HTC has suspended trading on the stock exchange owing to rumors of a takeover by Google. Taiwan’s stock exchange announced that shares would not be trading on Thursday morning “pending the release of material information. The statement does not mention when the exchange will resume normal trading.

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The latest development comes only days after, HTC was rumored to be in the final stages of negotiating a takeover with Google. The Taiwanese smartphone maker has responded via a statement that reads, “HTC does not comment on market rumor or speculation.” Google and HTC had teamed up to manufacture Google Pixel and Pixel XL smartphones of last year.

Popular tipster Evan Blass also shared few details about the possible HTC acquisition. He said that it is likely, the deal would see Google acquire some of HTC’s hardware assets, allowing the company to retain the brand especially to bolster its VR efforts. HTC was once an innovative company known for making some of the best smartphones however, it could not keep up to compete with rivals like Apple, Samsung and few Chinese players. Moreover, HTC has been struggling to garner profits for a long time.

Meanwhile, Google is all set to launch Pixel 2 and Pixel XL 2 smartphones early next month.

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Author: Sneha Bokil

Sneha Bokil is a tech enthusiast and is currently using OnePlus 3T but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+