China Baoli Technologies (CBT), a new shareholder of Yota Devices, the producer of the YotaPhone smartphone, has signed a preliminary agreement to start a joint venture with Chinese smartphone maker Coolpad, reports Tdaily.ru. The joint venture would produce the smartphones in China, with CBT holding 51 percent, a stake worth CYN 200 million.
CBT acquired a 30 percent stake in Yota Devices earlier this spring. Telconet Capital owns 34.9 percent, while Yota, controlled by the Russian corporation Rostekh, holds 25.1 percent, and Russian businessman Vladislav Martynov owns 10 percent.
