Allgemeine Deutsche Philips Industrie GmbH, the holding company for Philips NV’s West German interests, has revealed that has spent $86m raising its holding in the quoted Philips Kommunikations Industrie AG, and now has 79%, up from 70%: telecommunications accounts for about 85% of the unit’s business, and there has been speculation, regularly denied, that Philips […]
Allgemeine Deutsche Philips Industrie GmbH, the holding company for Philips NV’s West German interests, has revealed that has spent $86m raising its holding in the quoted Philips Kommunikations Industrie AG, and now has 79%, up from 70%: telecommunications accounts for about 85% of the unit’s business, and there has been speculation, regularly denied, that Philips wanted to sell the West German unit because the Dutch parent has been gradually disengaging from telecommunications, putting much of its business into the 60% AT&T-owned AT&T-Philips Telecommunications NV; if the status of the West German business is to change, most likely development would be for Philips to sell it to the AT&T joint venture.
