Indian company interested in buying Motorola’s mobile phone business

April 2nd, 2008 - 6:38 am ICT by admin  

New York, April 2 (DPA) Indian electronics firm Videocon is interested in buying US company Motorola’s struggling mobile phone subsidiary, the company’s chairman said Tuesday. Venugopal Dhoot told the Financial Times that the company had conveyed its interest to Motorola, but he would not say how much Videocon was prepared to pay.

Motorola last week said it would split its loss-making subsidiary into a separate firm with its own listing on the stock market. The Schaumburg, Illinois-based company would not comment on a possible Videocon deal.

India’s mobile phone market is one of the largest and fastest growing in the world. Motorola is the world’s third-largest producer of mobile phones.

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