RadioShack Shareholder Negotiating Rescue Package: Bloomberg
Bloomberg reported, citing people with knowledge of the matter, RadioShack Corp’s second-largest shareholder, Standard General LP, is negotiating a rescue package with investors to help the consumer electronics retailer ward off bankruptcy. RadioShack shares were up 7.3 percent at 77 cents on the New York Stock Exchange on Tuesday. Bloomberg reported, the hedge fund is also working with RadioShack’s management to help the company avoid a Chapter 11 filing. Bloomberg said, Standard General is seeking to strengthen RadioShack’s cash flow by issuing debt or equity. The hedge fund has a 7 percent stake in RadioShack.
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