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To: maceng2 who wrote (197701)	10/15/2002 6:10:34 PM
From: maceng2	Respond to of 436258

STMicroelectronics in talks to buy Motorola semiconductor ops - report ananova.com STMicroelectronics is in talks to buy Motorola Inc's semiconductor operations in a deal that would create the world's second largest chip manufacturer after Intel Corp, the Financial Times reported in its online edition, citing sources. However, STMicroelectronics, partly-owned by the French and Italian governments, today denied it had held merger conversations with Motorola or any other competitor. But senior French and Italian officials said the two companies are discussing a deal that would create a chip business with annual sales of more than $11 billion. One said a deal could come as early as next year if the talks, backed by both the French and Italian governments, succeeded. Motorola, once a leading semiconductor pioneer, is reviewing all its businesses in the wake of the technology downturn. It is also reported to have been in talks with Siemens AG about swapping its wireless infrastructure business for the German group's mobile handsets operation, the FT said. Citing a French government official, the report said a deal with Motorola would crown the career of Pasquale Pistorio, STMicroelectronics chairman and chief executive, and fulfill a professional dream. Pistorio worked for Motorola for 17 years, rising to head its international semiconductor division before returning to Europe. He then managed the integration of Italy's SGS group with the French Thomson microelectronics business to form STMicroelectronics. Motorola declined to comment, according to the FT. © AFX News