Philips to sell stake in Taiwan's TSMC for 8.5 Billion us $

Philips to sell stake in Taiwan's TSMC, worth $8.5-billion (U.S.)

Associated Press

AMSTERDAM — Royal Philips Electronics NV, Europe's largest consumer electronics maker, said it plans to sell its 16.2-per-cent stake in Taiwan Semiconductor Manufacturing Co. over the next few years. The stake is valued at around $8.5-billion.

Taiwan Semiconductor Manufacturing is the world's biggest contract chip maker by revenue, and supplies chips for mobile phones, digital cameras and computers.

Full story here, from The Globe & Mail