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SoftBank sells 4.9M share stake in UTStarcom to Shah Capital

Jan. 21, 2014 11:08 AM ETUTStarcom Holdings Corp. (UTSI) StockUTSIBy: 2, SA News Editor
  • SoftBank has exited its stake in UTStarcom (UTSI +2.7%), selling 4.9M shares for $2.54/share to Shah Capital, increasing the fund's position in the company to 21.9% from 17.2%.
  • SoftBank, which has been a shareholder since 1995, attributed the sale to "an overall change in its investment strategy."

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