Videocon Group, the leading maker of white goods is in talks to buy the Indian unit of Electrolux AB as it expands in the country’s $3 billion-a-year consumer electronics market but no decision has been taken yet it seems.
“Electrolux has not taken a decision on it yet. But there are others in the race to buy Electrolux’s unit, the company top executive said on Saturday.
The acquisition would follow last month’s purchase of Thomson SA’s television-tube business as Videocon tries to become a global leader in consumer electronics and components.
Mr Rajeev Karwal, Managing Director of Electrolux Kelvinator Ltd., the Indian unit of Stockholm-based Electrolux, has quit the company, a news report said, citing him.
From Hindu Business Line
