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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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