Gambit Posted April 2, 2008 Posted April 2, 2008 India's Videocon eyes Motorola's handset business April 02, 2008: 02:08 AM EST MUMBAI, Apr. 2, 2008 (Thomson Financial delivered by Newstex) -- India's Videocon Industries Ltd. (OOTC:VCNIF) has expressed interest in buying telecom giant Motorola (NYSE:MOT) Inc.s mobile handset business, reported Business Standard quoting Videocon chairman Venugopal Dhoot. Dhoot was quoted as saying, 'We have hired one of the world's top three investment bankers who will convey our interest to buy out the mobile handset business of the US company,' without identifying the banker. A Motorola India spokesperson declined comment, the report added. Motorola has announced its plan to separate its struggling handset business from other operations, forming two separate companies, after months of agitation from frustrated investors. At 9:54 a.m. local time, Videocon Industries shares were up by 4.91 percent to 330.00 rupees, while the benchmark Sensex was up 3.56 percent at 16,182.33. Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-24193492.htm
Gambit Posted April 2, 2008 Author Posted April 2, 2008 Ambitious is the word. Props to Videocon if they can pull this off though.
Holysmoke Posted April 2, 2008 Posted April 2, 2008 Not a big fan of videocon stuff... But will be great if they can pull this off!
Lurker Posted April 2, 2008 Posted April 2, 2008 Motorola is hardly what it used to be. It has a great legacy of course but it seriously took a hit when it put most of the money on a technology that didnt take off. Most of the big cellphone inventions at the beginning was done by Motorola and oddly enough they never were able to cash it. Phoenix has a big Motorola base, perhaps the biggest all over the world with many buildings and divisions and it has let go off a lot of people in past decade. I have no doubt Videocon can pull this off simply because they have the money and Motorola needs it.
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