Webwire: Hutch withdraws Scailex offer; Apple value hits new high
Hutchison Whampoa has withdrawn an offer to acquire 75% of Israeli mobile operator Partner Communications' parent company Scailex, citing factors including a deterioration in Partner's second quarter results.
Apple has set a new record as history's most valuable company, with its current $623 billion (€499 billion) valuation edging past Microsoft's $621 billion peak during the tech boom of 1999.
HTC will make a $35.4 million (€28.3 million) investment in enterprise apps start up Magnet Systems. But the vendor will also need to take a $40 million charge on its investment in cloud gaming start-up OnLive, which declared a form of bankruptcy before selling itself to another company.
Samsung is pumping $4 billion (€3.2 billion) into expanding the output of a US plant manufacturing logic chips for smartphones and tablets.
LG Electronics plans to launch its Optimus Vu smartphone-tablet hybrid worldwide in September. The device is already available in South Korea and Japan.
India’s government is threatening legal action against Twitter for failing to censor objectionable and inflammatory content posted on the microblogging site. The threat follows a social media campaign of racially-motivated threats in the north-east of the country
China's biggest online video company, Youku, has won shareholder approval to buy second-placed rival Tudou in a share-swap deal. The combined company will have an estimated market share of over 30%.