Tuesday , March 26 2019

Xiaomi buys 0.5 percent stake in TCL


Xiaomi Corp. bought a stake in Chinese home-appliance maker TCL Corp as the two companies agreed to cooperate on the development of smart products and electronic devices.
Xiaomi bought 65.2 million shares, or 0.48 percent, of TCL from the secondary market as of January 4, Guangdong-based TCL said in a statement to the Shenzhen Stock Exchange on Sunday. TCL said the purchase is recognition of its valuation, operational strategy and core competence, and that Xiaomi is willing to conduct a strategic cooperation with it on a capital level.
The agreement with Xiaomi was signed on December 29.

About Admin

Check Also

Buyout firms, pension funds to buy Inmarsat in $3.4bn deal

Bloomberg A group of private equity firms and pension funds agreed to buy Inmarsat Plc ...

Leave a Reply

Your email address will not be published. Required fields are marked *