British telecom company BT has apparently joined the ranks of OnLive investors that have been burned by Friday's announcement that the company would sell its assets off to a third-party entity controlled by Lauder Partners. BT said today that it is "highly likely" that it will be forced to write off its stake in a cloud-based video games service.
BT joins phone maker HTC, who said yesterday that it would lose its $40 million investment in the cloud-based gaming subscription service.
BT said that it had owned a 2.6 percent stake in the business before Friday's shake-up, but did not disclose how much that stake had been worth. The company did say that the investment amount did "not represent a significant investment for BT as a whole."