British Telecom says it's 'highly likely' to write off OnLive stake

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British Telecom has reported that it is "highly likely" to simply write off the 2.6 percent stake it invested in the recently rebooted cloud computing service, OnLive. The issue isn't yet settled, but a BT spokesperson told TechRadar that "the 2.6 percent shareholding in OnLive does not represent a significant investment for BT as a whole. We consider it highly likely that we'll have to write off our investment."

HTC also made a $40 million investment in OnLive, and it has already reported to the Taiwanese Stock Exchange that it considers the money written off. With all of OnLive's assets being transferred to form a new company, getting compensated for their investments may be more trouble than it's worth for both HTC and BT.

But the book isn't closed just yet – BT says it will "keep a close eye on developments" with OnLive, and that current customers who are able to access the service can continue to do so for the time being.

This article was originally published on Joystiq.