SKorea's LG Electronics to keep LG Philips LCD stake |
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Published
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Wed, 23 May 2007 07:03
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SEOUL (XFN-ASIA) - LG Electronics Inc will keep its stake in LG Philips LCD after July, when a two-year lock-up period ends, the company's chief executive officer Yong Nam said.'We will retain our shareholding in LG Philips LCD,' Nam was quoted by his spokeswoman as saying at a media briefing yesterday.His comment came amid reports that its joint venture partner Philips Electronics NV is in talks to sell its stake in the South Korean LCD maker.LG currently holds a 37.9 pct stake in LG Philips LCD while Philips owns 32.9 pct.eunkyung.seo@xinhuafinance.com
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Philips to exit Taiwan mobile phone market after China Electronics deal - report 