Videocon to bid for Motorola unit

Apr 2nd, 2008 | By Rosh PR | Category: Technology

Videocon Industries, the consumer electronics giant, is planning to bid for Motorola Inc’s handset business. Last Wednesday, Motorola announced that it would spin off the money-losing mobile phone business — succumbing to relentless pressure from billionaire activist investor Carl S. Icahn, who is Motorola’s second biggest shareholder with a roughly 6 per cent stake.Reports indicate that Motorola plans to concentrate on its profit-making arm that sells network equipment, set-top boxes and two-way radios. Read more

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