Qualcomm Assumes Partial Ownership of Pantech
As part of a debt-to-equity restructuring program, Pantech has decided to parcel off some of its worth to Qualcomm. Qualcomm will become a minority shareholder in both Pantech & Curitel Communications and Pantech Co., owning no more than 15% of each company. Qualcomm will not participate on either company's board of directors nor will it play any leadership role. The deal will be completed in stages and should take several months to finish. It still needs to pass several regulatory hurdles before final approval. Pantech took the opportunity to reiterate its commitment to bringing more phones to all the markets it serves, including the U.S.
Pantech committed to U.S., who cares!!!