Google Selling Clearwire Stake at Huge Loss
Highly rated gadgets
-
9.0
FujiFilm XF10
-
9.0
Sony WH-1000XM3
-
8.0
BlackBerry Motion
-
10.0
Nikon Z 7
-
9.1
Apple iPhone XS
-
8.5
Xiaomi Mi A2
-
10.0
FujiFilm X-T3
-
9.0
Panasonic LUMIX LX100 II
-
9.1
Apple iPhone XS Max
Google intends to sell its stake in Clearwire, but it will be at a big loss.
In a Friday filing with the Securities and Exchange Commission, Google said it will sell the 29 million shares of stock it owns in Clearwire at $1.60 per share. The stake will first be offered to existing shareholders, but if no one bites, it will open up to the public.
But as Dow Jones noted, that will be a loss of approximately $453 million or 91 percent.
"Google periodically rebalances its investments based on its goals and its evaluation of market conditions," Google said in the SEC filing. »read more
More at: PC Magazine Add additional source
Filed in: Google