CEC eyeing Royal Philips

CEC [China Electronics Corporation] has signed a Letter of Intent to buy off the Mobile phone business of Royal Philips. Philips has its mobile business with major concentration in Easter European countries and Asia Pacific region and its business has been flagging since last two year.

Although the deal can not be considered completed before the go-ahead from the government, the regulators and the share-holders but the process has been initiated.


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