Dow Jones Newswires -- September 18, 2000
Dow Jones Newswires
Motorola: To Increase Investment In OpenTV
Dow Jones Newswires
AMSTERDAM -- Motorola Corp (MOT) said Monday that it will buy around 1.88 million shares
of OpenTV (OPTV) from News America Corp. (NWS) for an undisclosed amount.
At 1015 GMT, OpenTV was trading at EUR44.00 on the Amsterdam Stock Exchange, down
EUR1.35, or 3%.
In a joint statement, Motorola said that the buy will increase its holdings in OpenTV to
approximately 5.4% of the company's ordinary shares.
"In addition, OpenTV and Motorola are working on definitive agreements to expand their strategic
relationship, including agreements for Motorola to offer digital set-top terminals with OpenTV
(software)," Motorola said.
News America originally purchased the shares before OpenTV's initial public offering.
OpenTV has canceled plans for an underwritten secondary offering, in which the News America
shares would be sold, the companies said.
-By Toby Sterling, Dow Jones Newswires; +31-20-626-0770; toby.sterling@dowjones.com |
