
Samsung has bought a 10-percent stake in Pantech, a South Korean mobile phone maker known primarily for its huge, feature-packed handsets, Yonhap News reports
The deal is valued at around 53 billion won ($47.6 million). With this move, Samsung will become Pantech's third-largest stake holder, following chip maker Qualcomm, which owns 11.96% of Pantech, and Korea's Development Bank, which owns a 11.81% of the company
Domestically, Pantech is the third-largest mobile phone maker, behind Samsung and LG. In the U.S., it's producing branded mobile phones for Verizon and AT&T. Still, the company is struggling with debt, which is exactly how Qualcomm became the company's largest stakeholder — by converting $75 million of royalty debt into equity Read more...
More about Acquisition, Samsung, Business, Mobile, and Pantech















