Philips seeks to flog its shares in TSMC

DUTCH FIRM Royal Philips Electronics said that it is to flog its shares in chip fab, Taiwan Semiconductor Manufacturing Company (TSMC).

According to a filing with the US Securities and Exchange Commission Philips is looking for an "orderly exit" from its shareholding in TSMC.

Philips is thought to hold close to 13 per cent of the shares in the fab.

At current prices, the firm could expect to realise around $2.5 billion (US) from the sale. µ