Royal Bank walks away from SCO investment
- 0
- Add a Comment
“The Royal Bank of Canada [Canada’s largest bank] is walking away from a US$30 million investment it made in The SCO Group Inc., in a move that may presage further legal and financial difficulties for the troubled Unix vendor, according to one financial analyst. The Royal Bank, which had purchased 30,000 shares of preferred stock as part of an October 2003 investment in SCO, sold off its SCO holdings in two financial transactions, both of which occurred last week. ‘We’ve unwound our position,’ said Paul Wilson, a spokesman for the Royal Bank’s Capital Markets group, who declined to comment on why the Royal Bank had sold the stock.”
