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BRIEF-NQ Mobile Inc provides an update on the FL mobile divestment

March 24 (Reuters) - NQ Mobile Inc

* Jiutian has entered into a termination and share purchase agreement with Jiutian and a subsidiary of company

* Pursuant to agreement, shi will acquire 22% equity interest in FL mobile by terminating relevant contractual arrangements

* Shi will pay company a total consideration of RMB880 million

* Expects to receive 50% of total consideration, or RMB440 million , within 60 business days from date of agreement

* Board of directors and audit committee have approved agreement and Jiutian transaction

* NQ mobile inc. provides an update on the FL mobile divestment Source text for Eikon:

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