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Videocon in talks with LG Philips

Videocon Industries Ltd is in talks to form a strategic alliance with South Korea's LG Philips LCD Co Ltd.

DNA Web Team

Updated : Sep 14, 2017, 03:56 PM IST

MUMBAI: Videocon Industries Ltd is in talks to form a strategic alliance with South Korea's LG Philips LCD Co Ltd.

“We are in talks with LG Philps and something will come out in three to four days,” a Videocon official said on Tuesday.

An official spokesman for the company declined comment.

Business Standard quoted investment banking sources as saying Videocon was looking at acquiring a part of LG Philips business and taking over a one-third stake in the company from Royal Philips Electronics NV.

Officials at LG Philips LCD Co Ltd and LG Electronics in Seoul denied any knowledge of the issue.

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