RadioShack shareholder negotiating rescue package: Bloomberg

(Reuters) - RadioShack Corp's second-largest shareholder, Standard General LP, is negotiating a rescue package with investors to help the consumer electronics retailer ward off bankruptcy, Bloomberg reported, citing people with knowledge of the matter. RadioShack shares were up 7.3 percent at 77 cents on the New York Stock Exchange on Tuesday. The hedge fund is also working with RadioShack's management to help the company avoid a Chapter 11 filing, Bloomberg reported.

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