in April 29, 2016, the Phicomm Group entered into a Supplemental Agreement amending the Subscription Agreement between the Phicomm Group and the Fund (the “Supplemental Agreement”). Pursuant to the Supplemental Agreement, the Phicomm Group committed to complete the capitalization of the Acquirer in accordance with the requirements of the Subscription Agreement and the Acquirer’s purchase of all 11,739,932 Ordinary Shares from the Sellers by June 30, 2016.
Sentiment: Strong Buy
Qing: Thank you for this information. I have seen the PR for Phicomm's K2 router and it is indeed a very nice product. No mention was made of co-marketing with UTSI so could you please guide me to the "recent interview" with Gu Guoping that stated this. In addition, could you guide me to the announcement, no doubt in Chinese, about the bond issue approval for Phicomm. The usual search engines do not reveal these documents.
Have a nice day.
Phicomm just got green light from China SEC to issue a couple of billions of RMB bond. That will help to finance to deal to acquire UTSI
in March Phicomm has terminated its M& A with A share 600556.I believe that it's due of high price tag of the A share shell. so Phicomm now can focus on buying out UTSI. In a recent interview, Gu said that Phicomm will launch its latest wireless dual band router Phicomm K2 with "UT starcom" brand for US and european market. It reinforces belief that UTSI buyout is definitely in his plan.
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UTSI share price is currently under total control of Chinese market's systemic risk which is in the process of creating long term trend final capitulation stage.
I'm looking for FXI to challenge Feb-March 2009 support/resistance level.