Taiwan's TSMC board to discuss plan to buy back shares from Philips |
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Published
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Mon, 12 Nov 2007 03:47
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TAIPEI (XFN-ASIA) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (2330.TW) confirmed that its board of directors is due to discuss a plan to buy back shares from Royal Philips Electronics NV, but it declined to disclose the precise date of the board meeting.As indicated during its quarterly briefing for investors in October, the TSMC board will discuss the share repurchase plan at a board meeting this month, said company spokesman JH Tzeng.The Economic Daily News had reported that TSMC will decide on the details of its plan to buy back about a 2.85 pct stake from Philips by the end of this year at a board meeting tomorrow.An industry source said that Philips currently owns about 8 pct of TSMC.TSMC's total capital stands at 26.42 bln common shares.At 9.47 am, TSMC was down 0.30 twd or 0.48 pct at 62.00.(1 usd = 32.30 twd)adela.lin@afxasia.comal/kmqxfnal/xfnkmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Taiwan TSMC board to decide tomorrow details of shr buyback from Philips -report 