HTC suspends shares amid Google takeover speculation

Trading in shares of Taiwanese technology group HTC will be suspended on Thursday following reports that Google parent Alphabet is planning a takeover.

Responding to a report in the China Times, the company said on Wednesday that it "does not comment on market rumour or speculation".

Following Taiwanese media reports earlier this month that it was in the final stages of negotiations with Google to dispose of its smartphone business, HTC told the Taiwan Stock Exchange earlier that trading will be halted as of Thursday pending the release of "material information".

Last month, Bloomberg suggested HTC was looking to sell its smartphone division amid dwindling sales and as its virtual reality headset business struggles.