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LONDON, UK / ACCESSWIRE / October 27, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for UTStarcom Holdings Corp. (NASDAQ: UTSI) ("UTStarcom"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=UTSI. The Company announced on October 25, 2017, that the Consortium led by Shah Capital has withdrawn its proposal to acquire the Company. The notice of withdrawal from the Consortium was received by the special committee of the UTStarcom's Board of Directors. The Consortium had made a preliminary non-binding take-private proposal to acquire the Company in March 2017. The reasons as to why the Consortium reneged their proposal has not been shared by UTStarcom. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Commenting on the development, Tenling Ti, CEO of UTStarcom, said:

"The strong performance of our stock price over the past few months reflects our solid operating performance and promising outlook. Our shareholders are being rewarded for the financial success of the Company. We have worked hard to satisfy demands of our customers, while introducing new products like SyncRing in Japan and further expanding our market penetration in India. We are confident in the future of the Company, and are pleased that the capital markets are acknowledging our growth prospects."

The Original proposal for Acquisition

On March 31, 2017, the Consortium had sent a preliminary non-binding proposal letter, dated March 31, 2017 to the Company's Board to acquire all the outstanding shares of the Company not owned by the members of the Consortium. The Consortium offered to pay $2.15 cash for each UTStarcom's ordinary share. The proposal envisioned taking the Company private.

The Company had immediately formed a special committee to study the Consortium's proposal in detail. Sean Shao and Xiaoping Li, two independent and disinterested directors, were the chosen members of this special committee.

About the Consortium

The member of the Consortium included Shah Capital Opportunity Fund LP, Himanshu H. Shah, Hong Liang Lu and his affiliates and Tenling Ti (also known as Tim), current CEO of UTStarcom. Shah Capital is a global investment firm and Himanshu H. Shah is the firm's Founder, President, and CIO, and Managing Member of Shah Capital Opportunity Fund LP. Hong Liang Lu is the Co-founder of UTStarcom who founded the Company back in the early 90s as Unitech Telecom. Hong Liang Lu stepped down from his position as Executive Chairman of the Board of Directors in August 2009 but continued as a member of the Company's Board.

Incidentally, Himanshu Shah, Hong Liang Lu, and Tim Li are all current members of the Company's Board of Directors. Himanshu Shah is the Company's Chairman of the Board.

About UTStarcom

Hong Kong based UTStarcom is a global telecom infrastructure provider, dedicated to developing technology that will serve the rapidly growing demand for bandwidth from cloud-based services, mobile, streaming, and other applications. The Company delivers cutting-edge packet optical transport and broadband access solutions coupled with a carrier-grade Software Defined Networking platform to give telecommunications carriers the power to build highly efficient and resilient future-proof networks for a range of applications, including mobile backhaul, metro aggregation, broadband access, and Wi-Fi data offload. The Company's strategic investments in media operational support service providers expand its capabilities in the field of next-generation video platforms. The Company has offices in Tokyo, Japan, San Jose, USA, Hangzhou, China, and Delhi and Bangalore in India.

UTStarcom started off as Unitech Telecom in 1991, when the Company was Co?founded by Hong Liang Lu. The Company later merged with Starcom Networks to form UTStarcom in 1995. UTStarcom became a publicly traded Company in 2000 when it was listed on the NASDAQ Stock Exchange.

Last Close Stock Review

UTStarcom's share price finished yesterday's trading session at $3.15, marginally sliding 0.63%. A total volume of 98.80 thousand shares have exchanged hands, which was higher than the 3-month average volume of 85.99 thousand shares. The Company's stock price soared 48.58% in the last three months, 55.17% in the past six months, and 55.17% in the previous twelve months. Additionally, the stock skyrocketed 57.50% since the start of the year. Shares of the Company have a PE ratio of 116.67 and currently have a market cap of $114.85 million.

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