EXCLUSIVE:TCL Mobile, Owners Of Alcatel Set To Be Privatised
High flying telecommunications Company Alcatel that is 65% owned by TCL with the rest floated on the Hong Kong stock exchange is tipped to be privatised.
According to Hong Kong based sources TCL will tomorrow make an announcement that they are set to buy out the remaining shares in the TCL Mobile business.
In 2005 the joint venture was dissolved and TCL acquired Alcatel’s 45 percent share. Since then, Alcatel has become a wholly owned subsidiary group of TCL.
TCL Mobile Limited, is currently a member of TCL Communication listed on Hong Kong Stock Exchange.
Earlier today shares were trading at $5.57.
According to a TCL source in Asia where I am at the moment the move to privatise the Company is part of a major play by TCL to restructure the Alcatel business.
Some analysts believe that TCL could be looking to sell the Alcatel business that hold the #3 slot in Australia.
Sources at Alcatel have not commented for this story.
Sams Skontas the CEO of Alcatel Australia has also refused to comment for this story.