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News Breaks
July 6, 2014
21:03 EDTNQNQ Mobile has likely already decided to fire PwC, Muddy Waters says
NQ Mobile has likely already decided to fire its auditor PwC, Muddy Waters says in a new report on the company. The short selling research firm added, "We believe NQs misleading statement that PwC wants to expand the scope of the audit, and that the board is reviewing the request, is merely to create a pretext for NQ to change auditors...While the long-term game for NQ is to avoid becoming another tombstone in the graveyard of China frauds, we expect that insiders will continue to make more acquisitions in order to drain the company of value." Reference Link
News For NQ From The Last 14 Days
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November 18, 2015
06:58 EDTNQNQ Mobile enters into binding agreement to sell Beijing Tianya
NQ Mobile announced it has entered into a legally binding agreement to sell 100% of the equity interest in Beijing Tianya , which operates NQ Mobile's mobile health applications related business, to Tack Fiori International Group, a Cayman Islands company listed in Hong Kong, for an aggregate consideration of $40M. Beijing Tianya is a wholly owned subsidiary of Beijing NQ Technology Co., Ltd., NQ Mobile's consolidated affiliated entity in China. The company's board has approved both the transaction and the Agreement. The closing of the transaction is subject to the condition that Tack Fiori obtains the necessary approvals, including shareholder approval, to complete the transaction, as well as additional customary closing conditions, and the satisfaction and compliance of all relevant requirements under the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange Limited.

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