Thomson To Hike Stake In Local Arm

Thomson Multimedia, the French consumer electronics major, is increasing its shareholding in its Indian arm Thomson Multimedia India Pvt Ltd from 84 per cent to 90 per cent.

Thomson Multimedia India manufactures CTVs as well as audio systems. The equity shareholding is being raised through a preferential allotment of shares in favour of the French company.

The Indian partner, Obul Reddy (of Dyanora), has expressed his inability to subscribe to any fresh equity issue at this juncture, company executives said.

Vivek Badrinath, managing director of Thomson India, confirmed that the French parent had reached an agreement with Reddy to enhance its shareholding in the joint venture.

 

He, however, denied that the move was part of the French company