HTC will cease trading shares of its stock in anticipation of a significant announcement to be made tomorrow.
The news was first revealed by the Taiwan Stock Exchange, which said
“shares of HTC Corporation … will be halted starting from Sept. 21, 2017 pending the release of material information.”
HTC confirmed the halt in share trading, but did not provide a reason behind the action. Earlier this month, Bloomberg suggested that Google might acquire HTC, or a portion thereof. It is possible that HTC plans to announce a takeover by Google during the announcement, which is happening in town-hall format at its Taipei headquarters.
The company’s response to the Taiwan Stock Exchange alert read,
“HTC does not comment on market rumor or speculation.”
HTC, once a dominant maker of Android handsets, has been fading for years in the face of competition from Samsung, LG, Huawei, ZTE, and others. The company’s financial health has been in question many times due to weak sales.
