Telecommunication News
- TCL to sell control of unit to Legrand
Date: 6-Dec-2007 Sources: (Shenzhen Daily)
SHENZHEN-LISTED television and mobile phone maker TCL Corp. said yesterday it would sell control of a subsidiary making low-voltage electrical products to France's Legrand SA for US$54.05 million.
TCL, which is selling assets as part of a restructuring effort, said it had agreed to transfer its 80 percent stake in the electrical product maker to Legrand for 400 million yuan (US$54.05 million). Another firm, named Jinju, will sell the remaining 20 percent to the Legrand group for 100 million yuan, TCL added. At the start of this month, TCL said it had agreed to sell control of its PC business to another buyer in a deal worth 60 million yuan.
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