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India's Videocon eyes LG.Philips equity

Posted: 09 Nov 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Videocon? LG.Philips? LCD? equity? K.C. Krishnadas?

Consumer electronics company Videocon Ltd, which in recent weeks signed a preliminary agreement to acquire South Korea's Daewoo Electronics, is now in talks to buy an equity stake in Seoul-based LG.Philips LCD Co.

LG.Philip has a global presence in TFT LCD panels but saw business suffer this year as prices slipped for LCD panels.

According to a report in Mumbai's Business Standard on Nov. 7, an unidentified Videocon executive said the Indian company is considering acquiring a one-third stake in LG.Philips from Netherlands-based Royal Philips Electronics NV. The Dutch company, however, is bound by the rules of LG.Philips' 2004 IPO to hold on to its equity until mid-2007.

Others vying to pick up equity in the company include Sharp Corp. and Matsushita Electric Industrial Co.

Videocon has been on a global acquisition spree of late. It acquired Thomson's color picture tube plants, has signed the Daewoo deal and is among the suitors for portions of the assets of Polaroid Corp.

- K.C. Krishnadas
EE Times

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