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Google to buy part of HTC's smartphone operations for around $1 billion - source

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Google to buy part of HTC's smartphone operations for around $1 billion - source

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HONG KONG/TAIPEI (Reuters) – Alphabet Inc’s <GOOGL.O> Google is set to announce a deal to acquire part of Taiwanese firm HTC Corp’s <2498.TW> smartphone operations for about $1 billion (741.18 million pounds), a source with direct knowledge of the matter said on Thursday. The deal will not involve the purchase of a direct stake and HTC will continue to run its remaining smartphone business, the source said, declining to be named as the information has not been publicly announced. HTC said in a filing to the stock exchange that it would hold a news conference at 0200 GMT on the signing of an “important cooperation agreement.”

(Reporting by Kane Wu and Jessica Macy Yu; Writing by Miyoung Kim; Editing by Edwina Gibbs)
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