Tag - Videocon
Indian electronics and appliances maker Videocon is making good on its earlier offer to purchase Motorola's hurting Mobile Devices business. According to Friday's reports, the talks between the two companies are at initial stages, says Videocon chairman and managing director Venugopal Dhoot. Videocon stands to benefit from the deal, as it plans on launching telecom services through its Datacom subsidiary in Indian markets this August.
As Motorola announces its desire to spin off its handset and broadband business as independent public companies, Videocon Industries is first to throw its hat into the ring, filing an expression of interest document for the former of the two departments. According to DeepikaGlobal, there will be a delay in the decision, however, since the acquisition process is required to be cleared by the regulatory body. Videocon chairman and managing director V. N. Dhoot told reporters of its intents.