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.