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Rumor: TCL Corp to Buy Back TCL Computer

Sina Tech, 3/17/09

A source inside TCL Computer says TCL Corporation (000100.SZ) has decided to buy back an 82% stake in TCL Computer that it sold in late 2007. The source says the company could announce the buyback next week.

An employee at TCL Computer said TCL Corporation's IT companies, including a new systems division, TCL Digital, TCL Computer, and TCL New Technology, would be merged into a single division.

A rumor recently circulating among channel partners states that TCL Computer GM, Yang Jianrong, has mentioned the buyback at a number of channel meetings. TCL Computer would not make any comment on this.

In 2008, TCL Computer undertook a series of employee layoffs, leaving only thirty-odd employees remaining at its headquarters.

Editor's Note: In December 2007, TCL Corp announced that Changda Technology Industries would purchase an 82% stake in TCL Computer through a payment of RMB 40 mln to TCL Corporation and injection of RMB 20 mln in capital to TCL Computer.

Keywords: investment 000100.SZ Changda Technology Industries computer hardware TCL Computer TCL Corporation Yang Jianrong

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