Qualcomm Boosts Stake in Pantech and 4 Chip and Big Data Stocks on the Move
QUALCOMM Incorporated (NASDAQ:QCOM): Current Price: $64.42
Qualcomm will convert its existing royalty debts, which are owed to it by Pantech, into equity, increasing its stake in the South Korean smartphone maker. On Monday, Yonhap News Agency reported that 52 million Pantech shares with a value of $23 million are to be bought up by Qualcomm with its overdue royalty claims, increasing its existing shares in South Korea’s third leading mobile phone maker from 11.46 percent to 13.49 percent.
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