BT Expects to ‘Write Off’ OnLive Investment

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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