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HELSINKI – Videocon Industries Ltd. intends to invest 50 million euros for a stake in Elcoteq, according to published reports.
The deal is expected to close by year-end.
Reuters, quoting Elcoteq CFO Mikko Puolakka, said the deal calls for Viedocon to invest 50 million euros ($72.7 million) in the EMS firm.
It is unclear what stake the Elcoteq founders would keep if the agreement were finalized.
The news comes just two days after a deal with Kaifa in China fell through. When the Kaifa agreement failed to close, Elcoteq said a deal was about to be struck with a new investor.
The deal is expected to close by year-end.
Reuters, quoting Elcoteq CFO Mikko Puolakka, said the deal calls for Viedocon to invest 50 million euros ($72.7 million) in the EMS firm.
It is unclear what stake the Elcoteq founders would keep if the agreement were finalized.
The news comes just two days after a deal with Kaifa in China fell through. When the Kaifa agreement failed to close, Elcoteq said a deal was about to be struck with a new investor.
TEMPE, AZ -- US manufacturing economic activity slowed but still expanded in September for the second consecutive month, according to a survey of supply executives.
LUXEMBOURG -- A deal calling for Shenzhen Kaifa Technology Co. Ltd. to invest tens of millions in Elcoteq is off.
DRESDEN, GERMANY – Researchers at Nanoelectronic Materials Laboratory (NamLab) have developed a dopant-free transistor that could eventually be used in printable electronics.
EL SEGUNDO, CA -- iSuppli Corp. raised its 2009 forecast for semiconductors and electronics equipment, citing a stabilizing economic environment and improved supply chain visibility.
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