BT Expects to 'Write Off' OnLive Investment

August 21, 2012 -

British telecom company BT has apparently joined the ranks of OnLive investors that have been burned by Friday's announcement that the company would sell its assets off to a third-party entity controlled by Lauder Partners. BT said today that it is "highly likely" that it will be forced to write off its stake in a cloud-based video games service.

BT joins phone maker HTC, who said yesterday that it would lose its $40 million investment in the cloud-based gaming subscription service.

BT said that it had owned a 2.6 percent stake in the business before Friday's shake-up, but did not disclose how much that stake had been worth. The company did say that the investment amount did "not represent a significant investment for BT as a whole."

Source: BBC

 


 
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