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No Buyers Found for Struggling ST-Ericsson
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Ericsson and STMicroelectronics are reported to have failed to find a buyer for their loss-making semiconductor subsidiary, ST-Ericsson.
STMicroelectronics has put its 50% stake up for sale. Although Ericsson hasn't said that it is explicitly seeking to sell its half, it has also ruled out buying out its partner - leaving either a new 50% partner for the company, or a sale of the whole firm.
Having failed to find a buyer for either half, or the entire company, the two owners are considering a split of the company back into its two halves.
Citing sources familiar with the situation, Bloomberg News said that potential buyers that were approached included Samsung Electronics, who declined to make an offer.
While no final decision has been made, in the event of a wind-down, Ericsson could take back a research site in Lund, Sweden, and STMicroelectronics could integrate a site in Grenoble, France.
On the web: Bloomberg News
Tags: [st-ericsson]
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