5/12/2014 3:19:05 PM
HTC set to lose out on windfall if Apple's takeover of Beats goes ahead
Asian smartphone manufacturer HTC is set to lose out on a windfall if Apple’s £1.9bn takeover of the headphone maker Beats goes ahead this week.
Having originally spent $300m on the deal, it then sold back its majority stake for $150m in 2012.
In September of last year, HTC sold back its final 25% stake in the audio company. The smartphone manufacturer received $265m (£164m) for the final 25% stake it held in Beats.
Founded in Los Angeles-based in 2008 by Dr Dre and record producer Jimmy Iovine, it is believed the duo still own around 25% of the company. Current investors in the headphone firm include the buyout group Carlyle and hip-hop star Dr Dre.
Beats also owns a music-streaming service, a rival to the popular Spotify.
The takeover by the US technology firm is set to be announced later in the week. The deal would be the largest of its kind for Apple.