Delphi in talks to buy Grundig car radio unit-paper
Tuesday October 21, 2:40 am ET
biz.yahoo.com
FRANKFURT, Oct 21 (Reuters) - The world's biggest car parts maker, Delphi (NYSE:DPH), is in exclusive talks about buying the car radio division of insolvent German television and radio maker Grundig , a German newspaper said on Tuesday.
"We are currently holding exclusive talks about buying Grundig Intermedia System," the president of Delphi Europe, Middle East and Africa, Volker Barth, was quoted as saying by the Handelsblatt business newspaper.
The report said Delphi was currently carrying out a due diligence examination of the Grundig unit.
Grundig, Germany's best-known maker of televisions and radios, filed for insolvency in April this year after years of decline. The company, which also produced video and DVD players, was once the biggest radio manufacturer in Europe. |
