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ST, Ericsson find no buyer for ST-Ericsson - report
2013-03-13 09:06:00| Telecompaper Headlines
(Telecompaper) STMicroelectronics and Ericsson have failed to find a buyer for their mobile chip-making joint venture ST-Ericsson after a three-month search, six people familiar with the situation told Bloomberg. Potential buyers, including Samsung, were approached, but none made an offer, two people said. The owners now are considering winding down ST-Ericsson as one possibility. In the event of a closure, Ericsson could take back a R&D site in Lund, Sweden, while ST could take a site in Grenoble, France, according to the sources. ST-Ericsson CEO Didier Lamouche announced earlier this week that he would step down at the end of March, with no successor named. None of the companies involved would comment on the matter.
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Category:Telecommunications