Himanshu H. Shah
's Shah Capital Management just reported, in a new filing with the SEC, that it has withdrawn its proposal to acquire UTStarcom Holdings Corp (NASDAQ:UTSI
) made earlier in March.
The fund also reported decreasing its position in the company to some 6.54 million shares, from 6.86 million reported at the end of the third quarter. Shah now holds around 16.8% of UTStarcom's common stock.
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