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.