UTStarcom : Shah Capital Consortium Withdraws Non-binding Take-private Proposal

(RTTNews) - UTStarcom Holdings Corp. (UTSI) announced that the special committee of the Company's board of directors has received a notice from Shah Capital Opportunity Fund LP, Himanshu H. Shah, Hong Liang Lu and certain of his affiliates and Tenling Ti to withdraw the preliminary non-binding take-private proposal letter dated March 31, 2017 from the Consortium to the Board.

Ti, the Company's Chief Executive Officer, said "The strong performance of our stock price over the past few months reflects our solid operating performance and promising outlook. We are confident in the future of the Company, and are pleased that the capital markets are acknowledging our growth prospects.