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Palm sell up to HP - Bono loses a stack of cash

29 April 2010
By Andy Dawson

bono_snap Troubled smartphone makers Palm have admitted defeat and agreed to sell up to Hewlett Packard for $1.2 billion dollars.

It’s good news for Palm and users of their myriad of products but bad news for previous investors in the company, who will receive a poxy return for their initial outlay.

Investors like Bono, whose private equity venture Elevation Partners own an approximate 30 per cent stake in Palm, chipping in with a $460 million investment in 2007 and 2008.

To put it more simply, every time we click our fingers, Bono loses £92 million.

*CLICK*

There it goes…

17 comments

  • Morocco
    couldn't happen to a nicer bloke
    Reply ·
  • Ben
    I wouldnt really call $460 an investment. No wonder they had to be sold if he was only chipping in $460, tighter than a ducks butt!
    Reply ·
  • JonnySpandex
    LMAO! Love it!
    Reply ·
  • Andy D.
    @Ben - Thanks!!
    Reply ·
  • Yue
    He's a twat who has never paid tax a day of his life so quite rightly, fuck him. And don't ask me to be charitable again. Ponce.
    Reply ·
  • Imran
    Oh no! That means he's going to have to make more 'music'!
    Reply ·
  • Klingelton
    HELLO HELLO!!! I hate bono. plain and simple. Cock. Best portrayal of him was on southpark.
    Reply ·
  • Grotbags
    He should have bought into the HTC Desiiiiiiirrrre
    Reply ·
  • mizzle
    that'll teach the smug cunt
    Reply ·
  • zeddy
    #And it's getting better......# No it isn't you twat!
    Reply ·
  • WARWICK H.
    WTF IS DIS REAL? - YES IT IS YOU IRISH PRICK.
    Reply ·
  • John G.
    Not sure this article is accurate also seen 'If the purchase is completed, it will mean a small payday for private equity firm Elevation Partners, which bought nearly a third of Palm between 2007 and 2009 for $460 million. With HP's offer, Elevation is set to walk away with a profit of about $25 million. ; quoted from Yahoo
    Reply ·
  • fritzel
    I wonder if a little african boy will suck him off to help cheer him up
    Reply ·
  • jonstorm2000
    Oh no, Bono goes loco in Soho with hobo, gets blow-blow after dinero just go-go. Cheerio
    Reply ·
  • andy y.
    Those comments about a little African boy are sick.We all know Larry Mullen does that 'chore'.
    Reply ·
  • dunfyboy
    HP > U2
    Reply ·
  • Nobby
    Will HP be making Palm sauce too? Will that also be brown?
    Reply ·

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