By Rory Gallivan
LONDON-- Dutch electronics group Koninklijke Philips NV (PHG)
said Monday it has agreed to sell its remaining 30% stake in TP
Vision, a television joint venture with screen maker TPV Technology
Ltd (0903.HK), to a subsidiary of TPV for an undisclosed fee.
"By giving TPV full control, they can drive synergies and act in
a faster and more flexible way to changes in the market," Philips
Chief Executive Frans van Houten said.
A license agreement between Philips and TP Vision will remain in
place, Philips said.
Philips shares at 1017 GMT, up 7 cents, or 0.25%, at 2,813 cents
valuing the company at 26.38 billion euros ($35.8 billion).
Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
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