Samsung, Nokia Eye Stake in HTC as Board Reelection Coming
TAIWAN, Nov 29, 2012 (Menafn - SinoCast Daily Business Beat via COMTEX) --With the reelection of members of the board of directors and the board of supervisors for HTC Corporation drawing near next year, several mobile phone powers are eyeing for the board seats in the company.
It is reported that after HTC Corporation reached a patent reconciliation agreement with Apple Inc. AAPL, major mobile phone manufacturers including Samsung Electronics, Nokia Corporation NOK, ZTE Corporation (szse:000063 and SEHK) and Huawei Technologies Co., Ltd. are playing a waiting game to ally with HTC via stock purchase in a bid to fight against Apple.
According to foreign media, an agreement is attached to the license agreement signed between HTC and Apple, which indicates any changes in the power of operation of either company shall be viewed as the failure of the license agreement. That is to say, the reconciliation shall become invalid if either company has less than 50% in the voting right for operation after equity transaction, or if the original company merges with a third-party company.
Source: www.sohu.com (November 29, 2012)
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