STMicroelectronics will sell its stake in ST-Ericsson JV

12/10/2012 | Bloomberg

STMicroelectronics will divest its stake in ST-Ericsson, its 50/50 joint venture with Ericsson, as part of its restructuring efforts. The chipmaker is in discussions with Ericsson on unwinding its role in ST-Ericsson, which lost $841 million last year and which Kepler Capital Markets analyst Sebastien Sztabowicz estimates will lose $900 million this year.

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