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ContextLogic (NASDAQ:WISH), the guardian of low cost on-line retailer Want, soared 15% in premarket buying and selling on a report that it is in superior discussions to promote its property and liabilities for $173 million to Singaporean e-commerce firm Qoo10.
ContextLogic (WISH) might announce a sale of property, together with Want, as quickly as this week for $6.50 per share in money, in keeping with a Bloomberg report on Monday, which cited folks aware of the matter.
ContextLogic (WISH) would stay the entity that holds the proceeds from the sale in addition to $2.7 billion of working loss carryforwards, in keeping with the report. The corporate might search for a personal fairness agency to assist unload its tax property.
A possible sale comes after ContextLogic (WISH) introduced a assessment of strategic options in November.
