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Matsushita doesn't want LG Philips

Did you think it did, anyroad?
By INQUIRER staff
Wed Mar 21 2007, 10:30
IN CASE you were wondering whether Matsushita was interested in buying LG Philips - soon to be called LP Displays - the answer is no.

According to nikkei.net, there's been a rumour to that effect, but it was scotched at a Merrill Lynch conference today.

The boss of investor relations Matsushita apparently said that the firm would rather spend money on growing its own business and expanding the joint venture it has with Toshiba and Hitachi.

Philips intends to divest its 33% stake in LG for a not inconsiderable sum not far off $4 billion. The world of LCD displays is one of much gnashing of teeth as the firms are forced to invest large sums on the LCD fabs and face intense competition and prices that are, quite often, in freefall. µ

L'INQ
Nikkei.net sub needed

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