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Electric: TCL denies stake sale
(Shenzhen Daily)
Updated: 2006-04-10 14:58
TCL Multimedia Technology Holdings Ltd. denied a newspaper report Friday that
it is selling a stake to Royal Philips Electronics.
The Singtao Daily reported that Philips, the third-largest shareholder in TCL
Multimedia’s parent, Shenzhen-listed TCL Corp., is planning to buy shares in TCL
Multimedia.
The report didn’t specify the amount of shares Philips planned to buy or how
much it would pay in total. A spokeswoman for TCL Multimedia, who declined to be
named, said Friday there wasn’t any negotiation on such a
deal.
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