Business & FinanceDealsTechnology19 September 2024, 10:35 am 1 minute

Reuters was first to report on Intel’s decision not to divest its majority stake in Mobileye, boosting the Israeli company’s shares by over 16%. Mobileye shares, which have dropped 73% this year, took a beating earlier in the month after media reports that Intel was looking to sell a portion of its stake in the company. 

Market ImpactIntel acquired Mobileye in a $15.3 billion deal in 2017 but relisted its shares five years later through an initial public offering.
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