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Jun 26 2009

Apple buys more shares in Imagination Technologies

Sardar Mohkim Khan 

Cash

Apple is pushing its stake higher in Imagination Technologies as it bought 2.2 million more shares. The shares were brought for $2.35 a share, meaning that Apple spend close to $5.17 Million. Intel made similar moves earlier as it bought around 5 million shares, pushing its stake in shares to 13%. While this would simply mean like a usual move but reports state that this happened because a Saudi group Saad had to lessen its  stake in the chipmaker as its accounts were frozen by the Saudi Central Bank.

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