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ST-Ericsson (STM, ERIC) manages to sell its mobile connectivity/GPS chip business/IP to an...

ST-Ericsson (STM, ERIC) manages to sell its mobile connectivity/GPS chip business/IP to an unnamed "leading semiconductor company" for an undisclosed price. That allows the JV, whose baseband processor ops have posted huge losses, to save a bit of face as it winds down following a failure to secure a buyer for the entire unit. STM +2.6% and ERIC +4.3% as European equities rally.
Comments (1)
  • fktchk
    , contributor
    Comment (1) | Send Message
     
    Not the mobile connectivity business, only the GNSS business (ex-WiFi, NFC etc.)
    28 May 2013, 09:40 AM Reply Like
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